At an internal meeting on Thursday, Mark Zuckerberg, the chief executive of Meta, said the Silicon Valley company was facing one of the “worst downturns that we’ve seen in recent history,” according to copies of his comments that were shared with The New York Times. (NYT)
Meta has reduced its target for hiring engineers in 2022 to around 6,000-7,000, down from an initial plan to hire about 10,000 new engineers, Zuckerberg said. In addition to reducing hiring, he said, the company was leaving certain positions unfilled in response to attrition—and “turning up the heat” on performance management to weed out staffers unable to meet more aggressive goals. (Reuters)
“Part of my hope by raising expectations and having more aggressive goals—and just kind of turning up the heat a little bit—is that I think some of you might decide that this place isn’t for you and that self-selection is OK with me,” Zuckerberg added. (NY Post)