Read the internal Facebook memos detailing a major hiring freeze, explaining 'slower' revenue growth
Executives explained the initial extent of the action in internal memos seen by Insider.Facebook is putting in place a massive hiring freeze and is reducing hiring targets in a move that will impact"almost every team across the company," executivesThese are rare moves for the company, which last year changed its corporate name to Meta to reflect a new focus on building"the metaverse.
While we're still going through our reprioritization, we know this will have an effect on hiring for the rest of the year. We came into 2022 with really aggressive growth targets and have hired at an incredible pace this year so far — we hired more engineers in Q1 than all of 2021. We've brought thousands of talented people into the company that are helping us work towards our ambitious goals and 2022 priorities.
We're in a strong position with a healthy business, and we feel optimistic about the opportunities to re-accelerate growth, particularly through unlocking new revenue streams through Reels monetization, incorporating AI into our ads system to overcome signal loss from iOS changes, growing business messaging and bringing the metaverse to life. But we also have to be responsible by responding to the unpredictable market forces that have put pressure on our business over the past few months.
- We will continue with scheduled interviews at onsite for IC6/M2 Eng candidates, but will not be adding any net-new candidates as we are confident we have enough people in process to meet our hiring goals.
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