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The CEO of Facebook, now Meta Platforms Inc. (NASDAQ: META), mark zuckerbergtold employees in late June that the company wants lower your engineering hiring goal from 10,000 to 6,000-7,000 due to the market downturn.
“If I had to bet, I’d say this could be one of the worst recessions that we’ve seen in recent history,” Zuckerberg told Meta staff members in a weekly employee question-and-answer session.
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Shares of Meta Platforms have plunged nearly 50% so far this year.
Zuckerberg has known how to act to provoke his workers.
“Realistically, there are probably a lot of people in the company who shouldn’t be here,” Zuckerberg stated, according to multiple reports.
The technology leader intends to weed out those employees who do not meet the highest requirements by tightening performance management goals, in addition to lowering hiring goals.
“Part of my hope in raising expectations and setting more aggressive goals, and just tightening the screws a little bit, is that some of you will realize that this is not your place and decide to leave on your own initiative,” said the CEO.
The company must “prioritize more ruthlessly” and “lead smaller, tougher, better-executing teams,” the chief product officer wrote, Chris Cox in a note addressed to Meta staff, highlighting the difficult time the company is going through.
The new cost-cutting measures are in response to Meta’s recent earnings report that revealed the company is generating less revenue as a result of slower ad sales and user growth.
Photo: Courtesy of Anthony Quintano on Flickr
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Zuckerberg wants to get rid of employees who ‘shouldn’t be’ in Meta | Ben Spain