Nick Barclay / The Verge
Meta CEO Mark Zuckerberg told employees on Thursday that the company is enacting a company-wide hiring freeze and warned them that more downsizing is likely coming.
First reported by Bloomberg’s Kurt Wagner and confirmed by sources to The Verge, 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. In a Q&A session reported by The Verge, he said, “Realistically, there are…