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Facebook Parent Meta Slows Hiring in Cost-Cutting Push

Meta Platforms signage outside the company's headquarters in Menlo Park, California.

Meta Platforms signage outside the company's headquarters in Menlo Park, California.

Photographer: Nick Otto/Bloomberg

Facebook parent company Meta Platforms Inc. is slowing or pausing hiring for some mid- to senior-level positions, part of a broader plan to cut costs and cope with the challenges facing the social media giant.

“We regularly re-evaluate our talent pipeline according to our business needs and in light of the expense guidance given for this earnings period, we are slowing its growth accordingly,” Meta said in a statement Wednesday. “However, we will continue to grow our workforce to ensure we focus on long-term impact.”