Meta to Freeze Hiring and Continue to Reorganize – Bloomberg

(Reuters) – Facebook-owned Meta Platforms Group will freeze hiring and continue to reorganize in the face of an uncertain macroeconomic backdrop, Bloomberg reported on Thursday, citing statements by its chief executive, Mark Zuckerberg, to its employees.

Several tech companies have had to cut staff in recent months due to falling advertising revenue.

“I had hoped that the economy would have stabilized but that does not seem to be the case yet, which is why we want to plan things carefully,” Mark Zuckerberg told his employees during a weekly discussion session.

Reuters reported in June that Meta Platforms had cut its engineering recruitment target this year to around 6,000-7,000 positions, from an initial plan of 10,000 new engineers.

The group did not comment on information from Bloomberg.

(Written by Akash Sriram Bangalore, French version Jean-Stphane Brosse)

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