The American tech firm, Meta Platforms, Inc. formerly known as Facebook is pausing the hiring of staff, according to new reports. Executives of the company in internal memos that got to our source explained how this will be enforced, and this will be implemented as a response to missed financial targets.
Chief Financial Officer of Meta, David Wehner said the company is doing so as part of its ‘reprioritization’ as it tackles challenges that caused it to miss revenue targets.
It is rare for the giant social media company to pause hiring, and the last time they did was at the peak of the lockdown.
A Meta spokesperson earlier this week told our source the company ‘regularly re-evaluates’ its hiring and “‘according to their business needs and in light of the expense guidance given for this earnings period, they are slowing its growth accordingly.’
Adding, the spokesperson continued;
‘We will continue to grow our workforce to ensure we focus on long-term impact.’
While the news Facebook to freeze hiring is about, Tesla CEO, Elon Musk is also making plans to complete the purchase of Twitter.
Among the plans he has for the platform, government and commercial users are reportedly likely to begin to pay for it.
‘The micro-blogging site would “always” remain free for casual users.’, Elon added.