Is Meta in a hiring freeze?

elderly man and screen with information that his services are no longer needed

Overview

Meta is the parent company of Facebook. There has been changes in the hiring plans of Meta. The hiring target has been reduced by a staggering 30%. CEO Mark Zuckerberg has informed the Meta employees that the organization is getting ready for a period of heavy uncertainty there is the fear of an upcoming recession and economic downturn. During these times, resource utilization and attrition continues to be one of the most critical factors that the senior management at Meta continues to monitor. There is also a very strict performance management program introduced in Meta. Using this Meta is identifying low performing employees and helping them leave the organization. Meta had already been facing challenges in the recent past with data privacy issues and their advertisement revenue. The upcoming recession is expected to be even worse than the 2008 recession. Subscribe and get access to the Meta interview questions below with various types of aptitude and coding questions.

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Meta Hiring Freeze

The performance management system in Meta is aimed at identifying employees who should not be there in the organization in the first place. This has been explicitly mentioned by Mark Zuckerberg. The performance management system at Meta is setting a higher benchmark for performance thus pressuring employees to deliver. Setting a higher performance benchmark is a way to force all employees to work much harder than before. By setting a higher benchmark meter is creating an environment where the same work that used to meet the expectations earlier will no longer be enough. Employees have to keep working harder to meet their goals this is an extremely aggressive step that can affect the work and life balance of Meta employees. This can also affect the motivation of Meta employees in the face of financial and revenue difficulties, Meta is taking a ruthless goal of achieving more by spending less. Meta has also informed their interns that they may not be able to get a full time position in the organization anytime soon. Meta has put the career of hundreds of employees and interns in uncertainty.

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Meta Layoffs and Hiring Freeze
Meta Layoffs and Hiring Freeze

Meta Revenue Trouble

The number of active users on Facebook continues to decline in the face of steep competition from TikTok, and Snapchat. Many of the youngsters no longer use Facebook and consider it as a platform used by the older generation. Even people who used to use Facebook more frequently, use it less than before posting lesser content by the users. It means that lesser content is there to consume many of the articles that are now widely circulated in the Facebook, our news articles posted by different news media outlets. The algorithm of Meta and their related products is also concerning due to the data privacy issues. Users no longer want their data to be a product of consume. Users no longer want their advertisements to be fueled by the data they generate. It is often very creepy when we see advertisements of products that we only talked about but didn't even search. Meta has also been trying hard to play catch up game with the algorithms of Tik Tok and Snapchat where the fresh content is not derived by the algorithm of what the user has liked earlier. But instead, an algorithm that automatically discovers fresh content. There is a healthy balance this way that impresses the user as well by providing fresh content to consume continuously. Meta has been spending heavily in enhancing its algorithm but so far, it has failed to attract the new user base. Meta has already been charged with creating violence in several communities in parts of the world. This shows there is definitely something wrong with their algorithm. TikTok and Snapchat on the other hand, provides a healthy dose of content that does not fall into the dangerous category that Facebook has entered.

Meta Growth and Metaverse

Meta is also considering its Instagram Reels as a resort to grow its revenue. Meta is also trying hard to improve its video business, but it does not yet possess the amount of graphics processing unit that it needs. To enhance its algorithm the amount of artificial intelligence that is needed to scan all the videos of the new contents is too much for the current Meta hardware. Thus, Meta is investing more on his existing infrastructure to get ready to be on a level playing field with the other players like TikTok and Snapchat. Meta has also said it will try to monetize its Instagram Reels. Meta has also said that its revenue decline is a temporary setback. Meta said once advertisers learn the Instagram environment they will be investing more and then accordingly the revenue of Meta will recover. We feel there is little hope for the Facebook and Instagram algorithms because the advertisement strategy is poor and keeps showing irrelevant advertisements. Meta needs to understand that the user comes first. If Meta puts their revenue more priority than the user then it will be a difficult situation. Hiring for machine learning and artificial intelligence roles are continuing in Meta. These are some of the top technologies that Facebook aims to invest in the near future with their ongoing projects of Metaverse and similar. The projects related to Metaverse will continue to be a priority for Facebook.

Author: Rahul Bhattacharya

Rahul is a journalist with expertise in researching a variety of topics and writing engaging contents. He is also a data analyst and an expert in visualizing business scenarios using data science. Rahul is skilled in a number of programming languages and data analysis tools. When he is not busy writing, Rahul can be found somewhere in the Appalachian trails or in an ethnic restaurant in Chicago.

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