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Zuckerberg won’t call. Meta* Corporation stops hiring new employees and prepares for restructuring

The American corporation Meta (banned in Russia) has suspended the hiring of new employees since Friday and began work to minimize costs. This was reported by The Financial Times, citing a memo from the head of the personnel department of the corporation, Lori Goler.

It notes that the company is suspending searches for job applicants and will stop making offers to candidates while this policy is in place. These new rules may be lifted later this year. In addition, Meta will temporarily refuse to transfer already employed employees within the company.

Departments and teams will be instructed to prioritize and improve efficiency. In general, the entire corporation is waiting for the largest restructuring for the first time since its inception. The reason for this step is called a decrease in advertising revenue and growing competition in the market.

Back in the summer, Meta CEO Mark Zuckerberg announced plans to cut staff. This was the result of tough market conditions due to budget cuts for advertisers, as well as the growth in popularity of other social networks, especially China’s TikTok. Also, Meta management lowered its forecast for the corporation’s total expenses for 2022 from 91-97 to 85-88 billion dollars.

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