Reuters: Meta is in ‘biggest drop in ages’ according to Zuckerberg – IT Pro – News

Meta is currently in one of the most turbulent periods in recent history, as Mark Zuckerberg acknowledges. Therefore, pressure on employees would be increased to filter out individuals who cannot meet the aggressive new targets.

Meta will also hire up to 30 percent fewer ‘engineers’ in the coming months, according to audio recordings owned by Reuters† The reticent recruitment of new engineers was already announced by Meta to shareholders in May, but no concrete figures have been forthcoming so far.

During the weekly Q&A with employees, CEO Mark Zuckerberg can be heard on the recordings to call the current sluggishness in Meta’s growth “the worst decline in recent history.” Instead of 10,000 new engineers, Meta plans to hire between 6,000 and 7,000 new people in that position by 2022. It is not clear who these engineers are.

Zuckerberg also suggests that employees will also have to leave: “Realistically, there are probably a lot of people [binnen Meta] who shouldn’t be here. It is my hope that through higher expectations and more aggressive targets we can increase the pressure that will make some of you realize that this is not the right job for them. I like that self-filtering.”

Reuters also notes from another internal memo that the company expects “strong headwinds” in the second half of this year. Employees should therefore not expect an influx of new employees and larger budgets. In the past six months, Meta has already lost roughly half of its market value.

The more difficult times for Meta and its subsidiaries have been around for some time. At the beginning of this year, for example, it was announced that the number of daily users of Facebook declined for the first time† Government agencies are also increasing the pressure on powerful social media, for example with a antitrust complaint from the FTC against Meta’s alleged abuse of power.