Meta to resume hiring for select roles after May? Here's what we know
Meta, over the past few months, have taken many aggressive steps to cut costs, which majorly involved getting rid of employees. The first round of 11,000 job cuts took place in November 2022, followed by the second round of 10,000 layoffs announced in March 2023
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FollowMeta will begin recruiting for specific rules in May, after laying off a huge number of people. Meta has adopted a number of extreme cost-cutting measures in recent months, the most of which have necessitated the layoff of staff.
The first round of 11,000 layoffs occurred in November 2022, with the second round of 10,000 announced in March 2023. This restructure is part of Meta CEO Mark Zuckerberg's ambition for a "year of efficiency" and the company's attempts to become more efficient in order to produce better products quicker and position itself for long-term success.
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In a statement, Zuckerberg recognised that the layoffs were unpleasant, but emphasised that the firm will provide a more stable environment for employees. "We've already completed two of the three waves of restructuring and layoffs that we planned for this year, in our recruiting and technical groups. In May, we'll launch our third wave across our business groups," Zuckerberg stated during the company's earnings conference call on April 26.
These cost-cutting measures were essential owing to weak advertising demand caused by a difficult macroeconomic environment, as well as the major impact of Apple's iOS privacy limits on the social networking giant's advertising business.
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Meta made more money in the first few months of 2023 than it did the previous year at the same period. This is because their applications are being used by more people every day, with over 3 billion individuals using them by March 2023. Mark Zuckerberg, the company's CEO, believes that by hiring fewer people, organising things differently, and focusing more on technology, they may improve their job. They intend to recruit additional individuals in fields such as artificial intelligence and virtual reality.
The firm expects to add a few more individuals in the coming year, but not too many. They want to ensure that they can continue to generate money and flourish, but they also want to be cautious.
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