July 7: Meta slashes hiring plans among fierce headwinds
Teams at Meta (Facebook) should not expect vast influxes of new engineers and budgets
Source: Reuters
Published: June 2022
Meta slashes hiring plans among fierce headwinds
"We are in serious times and the headwinds are fierce. Teams should not expect vast influxes of new engineers and budgets," said Chris Cox, Chief Product Officer.
"By raising expectations and having more aggressive goals, some of you might decide that this place isn't for you, and that self-selection is OK with me," said Mark Zuckerberg, Chief Executive Officer. "This might be one of the worst downturns we've seen in recent history.”
Meta has reduced its 2022 target for hiring engineers from roughly 10,000 to 7,000 (-30%).
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Holy cow - that's huge in showing where things are at in the world and in tech (both big companies and startups) right now. Back to lean, lean, lean! (and mean, mean, mean???)