The Facebook group Meta is facing austerity measures after the slowdown in its business.
Founder and boss Mark Zuckerberg prepared the employees in an internal question and answer session for a hiring freeze and budget cuts in some areas, as reported by the financial service Bloomberg, among others. Meta will be smaller in 2023 than this year, Zuckerberg said.
According to Bloomberg, Zuckerberg said he had hoped that the economy would have stabilized more in the meantime. But since it doesn't look like it, Meta wants to plan more carefully. There should be budget cuts across various areas.
Meta had grown rapidly in recent years, including to meet security and hate speech filtering requirements. As of June 30, the Group had 83,553 employees compared to 63,404 a year earlier.