Zuckerberg's warning to employees

Meta CEO Mark Zuckerberg sent a worrying message to his employees, telling them that the company is facing one of the worst downturns in recent history and that they should scale back on hiring and resource allocation.

In an internal video conference call, Mark Zuckerberg told his employees that they were expected to be more efficient with fewer resources and that their performance would be evaluated more aggressively than before. According to the New York Times, the warning, which included economic concerns, was made during Zuckerberg's internal video conference call with the firm's 77,800 employees on Thursday. To emphasize the seriousness of his message, Zuckerberg told employees that they were expected to be more efficient with fewer resources and that their performance could be evaluated more aggressively than before. "Some of you may decide that this is not the place for you, and I'm okay with that choice. Realistically, there's a group of people in the company that probably shouldn't be here." Supporting Zuckerberg's comments, Meta Chief Product Officer Chris Cox said in a separate note that Meta is facing serious processes and the economic headwinds they face are severe. Facebook's parent company is currently planning to hire 6,000 to 7,000 engineers. The company's initial target was 10,000. Meta's advertising revenues dropped significantly after Apple changed its privacy settings to restrict the data available to Facebook and Instagram. After the decision, the company experienced two consecutive quarters of declining revenues and lost 230 billion dollars in one day after disappointing results in February. At the same time, Meta is pursuing a risky strategic pivot towards the immersive world of the Metaverse, which led to the company's name change last year. Between inflation, the war in Ukraine and supply chain issues, Meta stands out as one of the few tech companies facing economic problems.