CEO Mark Zuckerberg said Meta Platforms, the parent company of social media network Facebook, will be freezing hiring efforts, according to reports Thursday.
on the matter, referring FOX Business to what Zuckerberg said about headcounts during the company's July earnings call.
Mark Zuckerberg, via video, speaks at the 2022 SXSW Conference and Festivals at the Austin Convention Center March 15, 2022, in Austin, Texas. "Our plan is to steadily reduce headcount growth over the next year," Zuckerberg said then. "Many teams are going to shrink so we can shift energy to other areas, and I wanted to give our leaders the ability to decide within their teams where to double down, where to backfill attrition and where to restructure teams while minimizing thrash to the long-term initiatives."In July, Meta reported $28.8 billion in total revenue for the second quarter of 2022, compared to $29.
A smartphone with Facebook's logo is seen with the new Meta logo in this illustration from Oct. 28, 2021.
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