Some teams are shrinking to “shift energy” elsewhere.
, the comments made during an internal all-hands call show how Meta is responding to a decline in its revenue brought on by the slowing global economy and Apple’s ad tracking changes. Meta’s stock price has fallen by more than half this year.
In May, Zuckerberg announced a hiring freeze affecting certain segments of Meta and said he couldn’t make promises about possible layoffs, but by the end of June, his tone had changed., he said, “Realistically, there are probably a bunch of people at the company who shouldn’t be here... And part of my hope by raising expectations and having more aggressive goals, and just kind of turning up the heat a little bit, is that I think some of you might just say that this place isn’t for you.
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