mark zuckerbergCEO of Goal, announced to its employees that the company would stop hiring and there would be restructuring in some teams with the aim of reducing expenses and realigning priorities, according to reports Bloomberg.
He also explained that the firm would reduce budgets for teams, even those that are growing, and that these templates will decide how to handle changes in personnel.
“Our plan is to steadily reduce headcount growth over the next year… A lot of teams are going to streamline so we can shift energy to other areas, and I wanted to give our leaders the ability to decide within their teams where to double down, where to fill in attrition and where to restructure teams while minimizing the clash with long-term initiatives,” Zuckerberg said.
This indicates that those vacancies left by employees may not be filled, opening the door to staff rotation to other areas or working to “manage people who are not successful”, according to the comments obtained by Bloomberg.
“I was hoping the economy would have stabilized more clearly by now… But from what we’re seeing, it doesn’t look like it has yet, so we want to plan somewhat conservatively,” Zuckerberg said.
This announcement comes after it was revealed that the parent company of Instagram and Facebook would reduce its expenses by at least 10%. Also, Meta had cut plans to hire engineers by at least 30% this year, according to reports. TheGuardian.
“Meta is likely to be smaller in 2023,” Zuckerberg said.
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