Meta limits hiring to cut expenses

Facebook and Instagram’s parent company, Meta, plans to limit its new employee recruitment as part of efforts to cut costs due to lower revenue estimates, according to emerging information. Reducing hiring specifically includes middle and senior positions.

Meta will reduce hiring

Based on information obtained by CNBC and Bloomberg from company executives, Meta expects a decrease in revenues in the second quarter of the year. In this context, the company will make a reduction in new hires in order to reduce expenses. In a statement, it was stated that Meta will implement the decision for this quarter, but will continue to recruit for the long term to fulfill its future plans.

A Meta spokesperson: “We regularly reassess our talent line based on our business needs and slow its growth accordingly in light of the spending guidance provided for this earnings period. However, we will continue to grow our workforce to ensure we focus on long-term impact.” made statements.

It is stated that Apple expects to lose 10 billion dollars in revenue due to changes in the privacy settings in iOS, and the war between Ukraine and Russia reduces its revenues in that region.