Meta CEO Mark Zuckerberg has announced a hiring freeze and has slashed the budget as the company faces a constant revenue slide. Meta, which runs Facebook, Instagram and WhatsApp, is also planning to restructure teams so that it doesn't require any new engineering hires.
There is a reported change in Meta's future, both for incoming and current employees. Meta is reportedly freezing its hiring process and accepting new applicants for positions in the company, and it goes alongside an impending doom for current employees within the company.
Earlier this month, Meta chief product officer Chris Cox, in a memo to employees, warned about a "serious" year as its ad business continues to take hits amid a weakening economy.
Zuckerberg also said during a weekly employee Q&A that it is "turning up the heat" on performance management to fire staffers who are unable to meet their targets.