Mark Zuckerberg warns of the ‘worst recession’ in Meta

as one of the “worst recessions we have seen in recent history” The executive director of Meta, Mark Zuckerberg, described the economic crisis facing the technology industry and that a 30 percent reduction in hiring, as well as resources, was required.

The warning was released during an internal videoconference meeting with 77,880 Metal employees, according to what was reported. New York Times and Zuckerberg would expect his workers get more done but with fewer resources availableadding that their performance will be rated with greater intensity.

“I think some of you might decide this place isn’t for you and that self-selection is fine with me. Being realistic probably there is a group of people in the company that should not be here”, said the American company.

goal initially had plans to hire approximately 10,000 engineers this year and now his goal has been reduced to about 7 thousand and although he does not plan to fire anyone, part of the hope for Zuckerberg is to “raise the temperature” within the work environment.

On the other hand, Meta product manager Chris Cox said in a separate memo that Meta faces “serious times” and that “the economic headwinds are fierce”for which it is necessary to “operate more efficient, aggressive and better execution teams”.

Notably Meta carries two consecutive quarterly earnings declines so far this decade and has lost up to 230 billion dollars in market value.

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