Facebook is stopping Hiring

Meta-owned social media platform Facebook is putting a brake on its hiring and scaling down plans to acquire new talent in the company. On Wednesday, according to an internal memo, the Chief Financial Officer David Wehner told that the company has taken this decision as part of its "reprioritization" as it takes on challenges that caused it to not achieve revenue targets. In a different memo, Miranda Kalinowski, Facebook's global head of recruiting, told the engineering team of Facebook would be the first to be affected by these hiring decisions while management remains to adjust hiring targets elsewhere.

Facebook usually doesn't stop hiring new talents. The company last time halted hiring during the beginning of the Covid-19 pandemic. Other than this, during the start of this week, a spokesperson of the company informed that  the company "regularly re-evaluates" its hiring and "according to our business needs and in light of the expense guidance given for this earnings period, we are slowing its growth accordingly." The spokesperson further commented, "We will continue to grow our workforce to ensure we focus on long-term impact.”