In that memo, Wehner says that the four factors that are damping Meta's revenues include:Easing of lockdowns resulting in people spending less time online.
Global recruit chief Miranda Kalinowski sent a memo of her own stating that Meta will immediately put a freeze on the hiring of engineers. She wrote,"We’re still working out what this means for each org, but this will affect hiring goals for almost every team across the company. Based on this refreshed guidance, we know we need to adjust our hiring targets across the board starting with Eng[ineering].
He adds,"But we also have to be responsible by responding to the unpredictable market forces that have put pressure on our business over the past few months. In practice, this is a valuable forcing function to make sure we’re prioritizing more effectively and are all working on the most important things."
Source: News Formal (newsformal.com)
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