Meta announces hiring freeze, Zuckerberg blames economy

As the tech industry suffers through a slowdown in recent months, Facebook’s parent company Meta announced hiring freeze and “further restructure”.

Acoording to reports, Zuckerberg made these comments during an internal call to employees.

Zuckerberg also said that Meta would reduce budgets across most teams, and that individual teams will have to resolve how to handle headcount changes, the report added.

Zuckerberg reportedly added that budgets will be slashed across most teams at Meta, which owns Facebook, Instagram and WhatsApp.

The announcement comes after several tech companies have been forced to slash headcount in recent months, as advertisers trim spending in anticipation of a recession.