Meta to Slow Hiring in 2022, Hints at Layoffs After Metaverse Pivot – The social media and technology business Meta, which switched its focus to metaverse technology, has launched a number of initiatives to support it in the event of a future market downturn.
The company’s founder and CEO, Mark Zuckerberg, reportedly said that the present economic outlook will alter the company’s recruiting plans for this year. In contrast to the previously projected 10,000 planned positions, Zuckerberg announced that Meta will now only hire between 6,000 and 7,000 engineers this year.
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This implies that the corporation will actually cut back on recruiting between 30 and 40 percent. Additionally, Zuckerberg stated that the firm would alter its expectations regarding how employees should perform, suggesting greater standards in this regard.
Regarding this, Zuckerberg said:
“I think some of you might decide that this place isn’t for you, which is one of my hopes in boosting expectations, setting more ambitious goals, and generally turning up the heat a little bit.”
Zuckerberg additionally suggested that Meta will implement some layoffs by saying:
“Realistically, the company probably employs a number of individuals that shouldn’t be there.”
Zuckerberg has previously acknowledged the firm will loose money for the foreseeable future due to its current focus on the metaverse. For its metaverse hardware section, which is in charge of developing more immersive gear for consumers to have a better alternate reality experience, Meta has significantly boosted the number of dollars allocated to R&D.
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Nevertheless, Zuckerberg has high hopes for the metaverse and what it can mean for the business in the future. In the past, he has said that he thinks the metaverse would be able to draw billions of users to Meta’s platform, and that at that point, monetization services will be scaled.
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