“Meta” plans to reduce hiring for these reasons!

Meta, Facebook’s parent company, is slowing hiring as it predicts weakest revenue growth ever amid business challenges in course, such as changes to Apple’s privacy policy and war in Ukraine.

A company spokesperson said: “We regularly evaluate our talent in based on our business needs. In light of the spending indications provided for this period of earnings, we will slow down employment growth. “

He added, “However, we will continue to grow our workforce to ensure we focus on long-term impact,” according to CNBC, which was reviewed by Al Arabiya.net.

In its earnings report last week, Meta predicts a potential year-over-year revenue decline in the second quarter. Chief Financial Officer David Weiner highlighted many of the problems the company faces and said expenses for the year would range from $ 87 billion to $ 92 billion. in drop from a previous forecast of $ 90 billion to $ 95 billion.

Meta plans to discontinue or slow down hiring for most of the mid-level and seniorafter delaying the addition of junior engineers in recent weeks, according to a person familiar with the company’s plans.

Sources said recruiters have started putting in pause their efforts to fill certain roles.

And the challenges began to emerge from last year, when users ditched Facebook apps. In February, Meta said her SAD numbers had declined in sequence for the first time in the fourth quarter, although that number increased again in the first quarter of 2022.

However, the business of the media digital is largely influenced by macroeconomic concerns and the Russian invasion of Ukraine.

“We have seen a further slowdown in growth since the start of the war in Ukraine due to loss of revenue in Russia, as well as lower advertising demand inside and outside Europe, ”Weiner said during the earnings call last week.

Weiner also reiterated his warning to investors that the privacy changes Apple made to its iOS devices last year would hurt growth, after the company already predicted the move would cut revenue. questyear of $ 10 billion.

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