Meta’s New Game Plan: Freeze, Cut, & Try to Keep the Office Warm
Meta Platforms, the parent of Facebook, is tightening its belt in the face of a shaky economy. Bloomberg News spilled the beans on Thursday (Sept 29) after Mark Zuckerberg chatted with staff in a company‑wide Q&A.
What’s Going On?
Zuckerberg admitted the market is still a roller coaster: “I had hoped the economy would have more clearly stabilised by now, but from what we’re seeing it doesn’t yet seem like it has, so we want to plan somewhat conservatively.” The result? A hiring freeze that’s set to go on for the next year, with plans to cut engineer recruitment by at least 30 % this year (as Reuters reported back in June).
Brace for the Cuts
- Company‑wide budget reductions across most teams.
- Individual squads will decide how to manage headcount swings.
- Meta confirmed a broad freeze in May, but the exact numbers were kept under wraps.
Meta remains tight‑lipped on the specifics. The company cited Zuckerberg’s earlier warning from the second‑quarter earnings call about a headcount reduction over the next year, but shies away from disclosing precise figures.
Why the Cutbacks?
Across tech, staffing has been tightened as advertisers trim spend and brace for a looming recession. Meta’s move follows in the footsteps of peers looking to keep the company lean and ready for whatever the market throws their way.
As for the employee morale, it’s a bit of a mixed bag: some are counting the heartbeats of fewer hires, others are just hoping the coffee budget stays intact.
