Meta will ‘dramatically’ decrease hiring and maintain flat employment growth until the end of 2023.
- On October 26, Meta CFO Dave Wehner said the company’s third-quarter hiring decreased and expects it to slow more next year.
- The company announced a second straight quarterly revenue decline and forecasted another in the fourth quarter due to a slowing digital advertising market.
- Meta added 3,761 people in Q3 versus 5,748 in Q2. Despite Q3’s seasonal hiring strength, Wehner noted this.
- Meta CEO Mark Zuckerberg hopes to conclude 2023 “either around the same size or even a somewhat smaller organisation.” September 30, 2022 saw 87,314 employees.