Meta employees warned of hiring slowdown later in year: The digital giant Meta, previously Facebook, has cautioned staff to prepare for a challenging second half of the year. As it continues to deal with issues relating to its primary online advertising business amid a deteriorating economy.
An official verified to CNBC that Chris Cox, chief product officer at Meta, had written an employee email outlining the company’s financial predicament. And the significant areas in which the social media behemoth intends to spend.
Cox reaffirmed remarks made by Mark Zuckerberg, the CEO, and co-founder of Meta. During a conference call with analysts as part of the company’s first-quarter earnings report. Which described the detrimental effect on the company’s business caused by a privacy update Apple made to the iPhone last year.
The firm is going through “severe problems here, and the headwinds are tremendous,”. The Meta CEO said, highlighting that its difficulties aren’t expect to go away anytime soon.
Meta employees warned of hiring slowdown later in year
Cox added, “We need to perform perfectly in a slower growth environment. Where teams shouldn’t anticipate huge influxes of new engineers and funds.”
We need to set priorities with more cruelty, be deliberate about monitoring and analyzing what has an effect. Invest in the company’s developer efficiency and velocity, and run smaller, meaner, more exciting teams.
Cox said the company is working hard to make money from Instagram Reels. Its TikTok competitor, and is also investing in AI to drive content recommendations like TikTok.
As the company has previously stated, to counteract the impact of Apple’s update. Which limited Facebook’s ability to target ads to specific audiences.
Additionally, Meta intends to spend money on features that will simplify for companies to engage with their staff via texting and for merchants to display advertisements to consumers on its family of applications.