From FINANCE.YAHOO.COM
Facebook parent Meta is cutting back on hiring and turning up the heat on its employees as slow growth and macroeconomic headwinds push the company to downgrade its economic outlook.
In a weekly employee Q&A session on Thursday, the social media giant’s chief executive Mark Zuckerberg told employees that Meta is reducing its plans to hire engineers by at least 30% this year. Citing the market downturn and the looming recession, Zuckerberg said Meta will now only hire around 6,000 to 7,000 new engineers in 2022—a stark drop from its initial plan to hire more than 10,000.
“If I had to bet, I’d say that this might be one of the worst downturns that we’ve seen in recent history,” Zuckerberg said in an audio recording heard by Reuters…. (Read more)
