Facebook’s Meta Freezes All Hiring, Warns of Possible Layoffs Due to Economic Turmoil: Reports

Started by Epoch-Times-Bot, Oct 01, 2022, 12:00 AM

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Epoch-Times-Bot

Oct 01, 2022, 12:00 AM
Facebook's Meta Freezes All Hiring, Warns of Possible Layoffs Due to Economic Turmoil: Reports

Facebook’s Meta has reportedly announced that it would freeze hiring and outlined a new plan to reorganize and cut back its staff for the first time in its history, as the company’s profit growth begins to slow down.
The tech sector has been hit hard this year, as stocks on the NASDAQ and S&P 500 have taken a hit.
The social media giant’s CEO, Mark Zuckerberg said on Sept. 29, that he plans to reorganize teams and reduce the company headcount, as sluggish growth begins to affect the social media giant.
This is the first major budget cut since the company first opened in 2004, as the tech firm enters a restructuring process in order to cut expenses and adjust priorities....

Source: Facebook's Meta Freezes All Hiring, Warns of Possible Layoffs Due to Economic Turmoil: Reports

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