Meta Slashes Plans to Hire Engineers by at Least 30% Amid Downturn, Reuters Says
Meta shares were down about 1% in early trading on Friday. They have tumbled 52% this year.
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Meta Platforms Inc. is slashing its hiring goals for engineers by at least 30% this year and warned all staff to brace for a severe economic downturn.
Chief Executive Officer Mark Zuckerberg told employees on Thursday that he’s anticipating “one of the worst downturns that we’ve seen in recent history,” according to an audio recording of the weekly Q&A session, obtained by Reuters.