How long will the Meta hiring freeze last?

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Overview

Facebook-owner Meta platforms has been continuously cutting their plans to hire engineers every few months. The recent development suggests the plan is to reduce the hiring target by as much as 30%. The ongoing economic downtown has been seen to be as one of the worst in the Facebook ecosystem which was already facing some steep challenges in the months before. The market scenario is said to be worse than the 2008 recession and the recovery is expected to take longer than anything we have seen before. Meta is prioritizing its projects internally and many optional and nice to have projects are being cut down or the team size of such projects reduced to a minimum. Performance of Meta employees is continuously under scanner and the pressure to deliver is more than it has ever been. Meta employees and interns are feeling the pressure in this extremely volatile situation. Meta is financially under a lot of stress as well with the Meta stock responding negatively to all the ongoing news around the economy and news around Meta itself. Get access to the Meta interview questions below to prepare for any Meta job position you are applying for.

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Meta Hiring Freeze and Layoffs Fired Sack Lose Job
Meta Hiring Freeze and Layoffs

Meta Hiring Freeze Duration

The hiring target of Meta has been reduced by about a third in the current year from its initial plan. Meta is also leaving many of the Meta job positions unfilled in response to the ongoing attrition. Meta has turned up the heat on performance management to weed out staffers who are not able to meet aggressive delivery targets. This is resulting in poor work-life balance for Meta employees as well. The Meta management has observed there are employees in Meta who should not be there. And setting more aggressive goals is the path Meta has taken to let employees decide for themselves if they want to deliver or quit their job. The profitability of Meta has taken a hit with macroeconomic pressures and increasing data privacy hits to the Facebook Ads business. The Meta hiring process is expected to continue slowly at least till the first half of the next financial year. Meta focuses to build on the systems and infrastructure it already has and the challenges it is already facing rather than invest and hire more on newer systems and opportunities.

Is Meta in trouble?

Meta is in deep waters and facing challenges in multiple fronts, mainly on data privacy and profitability from its advertisement business. Meta has seen slowing ad sales and also slow user growth with rivals like TikTok and Snapchat showing higher user adoption with exciting new features and algorithms. The United States economy overall is also showing signs of a slower growth. Meta has been hit more severely than its competitors Apple and Google. Meta has seen record decline in its active users which means that existing users are using Meta products like Facebook, Instagram, and Whatsapp much lesser than before. Rivals products like TikTok, Snapchat, Flickr, Telegram, and Signal are getting adopted by a larger population than ever before. The algorithm of Meta is currently being revised to focus around the discovery model that TikTok has received huge success with. The other primary segment Meta is focused on is an expense Metaverse virtual reality technology that will take its time to mature. Meta's troubles might be a short term one if it can recover its financial resources with Instagram Reels, headset Cambria, and similar other aspects of its revenue model.

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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