Facebook-Meta: Cuts engineering hires and warns of deep economic downturn

Its owning company FacebookMeta Platforms Inc, proceeded to cut of her plans for her recruitment of engineers this year, at least by 30%as its executive director announced to the employees yesterday Mark Zuckerberg as he warned them to prepare concerning one deep decline in the economy.

Meta has cut its 2022 engineer hiring goal by about 6,000-7,000 below its original plan to hire about 10,000 new engineers, Zuckerberg said.

The company confirmed it suspension of recruitment on a broader level in the previous month, without however having previously reported the exact numerical data.

In addition to the hiring cuts, Zuckerberg said, Meta will leave specific executive positions vacant by reacting to attrition and “keeping a low profile” about management’s decisions about removal of executives who could not achieve the aggressive goals set by the company.

Meta will “need to more aggressively reassess its priorities” and operate with “smaller, more efficient and less demanding executive teams,” product and services development manager Chris Cox wrote in the same internal memo, which appeared at the staff meeting to exchange questions and answers.

“I want to point out that we are going through difficult times here. It is necessary to operate seamlessly in an environment of lower economic growth, where teams should not expect large inflows of new engineers, but of budgets,” Cox wrote.

This internal memo, as reported by APE-MBE, “was aimed at shaping an environment regarding what the company has publicly announced about its profits, regarding the challenges it faces, but also the opportunities we have, regarding the greater fields of action to address the situation,” a Meta spokesman said in a statement.