In an internal meeting this week, Mr. Zuckerberg said the tech giant was facing one of the “worst downturns that we’ve seen in recent history.”

Mark Zuckerberg Prepares Meta Employees for a Tougher 2022

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2022-07-02 08:30:09

In an internal meeting this week, Mr. Zuckerberg said the tech giant was facing one of the “worst downturns that we’ve seen in recent history.”

At an internal meeting on Thursday, Mr. Zuckerberg, the chief executive of Meta, said the Silicon Valley company was facing one of the “worst downturns that we’ve seen in recent history,” according to copies of his comments that were shared with The New York Times. He told Meta’s 77,800 workers that they should prepare to do more work with fewer resources and that their performances would be graded more intensely than previously.

Mr. Zuckerberg added that the company — which owns Facebook, Instagram and other apps — was lowering its hiring targets. Meta now plans to bring on 6,000 to 7,000 new engineers this year, down from a previous goal of around 10,000, he said. In some areas, hiring will pause entirely, especially of junior engineers, though the head count will increase in other parts of the business, he said.

“I think some of you might decide that this place isn’t for you, and that self-selection is OK with me,” Mr. Zuckerberg said on the call. “Realistically, there are probably a bunch of people at the company who shouldn’t be here.”

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