Mark Zuckerberg believes that we are facing the “worst economic recession in years”, so he plans to make changes throughout Meta .
The CEO of Meta , Mark Zuckerberg , has announced to his workers that the world is going through “the worst crisis in years” so he will reduce the workforce in the company.
The message was sent via video call last Thursday, according to The New York Times , to its more than 77,000 employees. Meta will go through a change of strategy this 2022.
“The worst financial crisis in years”
According to the media, the statement indicates that Meta plans to reduce the hiring of employees and start evaluating current ones for their performance because we are facing “the worst economic recession in years.”
During the assembly, the executive president of Meta said that there are “many people in the company who should not be there.” He added that by raising expectations and having more aggressive goals, he hopes some employees will decide the company isn’t for them and quit of their own free will.
Meta initially planned to hire around 10,000 engineers in 2022, according to The New York Times . Now the company, which owns Facebook, WhatsApp and Instagram, has reduced the targets to about 7,000.
Meta executives are already cutting costs across the company in the first few months of 2022 due to slowing ad sales and user growth.
According to CNBC , the social media company lost half of its market value in 2022 after Meta reported that daily active users on Facebook saw a decline for the first time in years.