Mark Zuckerberg’s Meta to Slow Hiring in 2022 with Possible Layoffs
Meta, the social media and tech company formerly known as Facebook, has announced a series of actions in preparation of a future market downturn. Quoting the CEO of the company, Reuters reported that the current economic situation will likely effect Meta’s hiring plans for this year.
Zuckerberg explained that his firm will reduce hiring of engineers by 30% to 40% from the initially planned 10,000. He further said that the company will push for performance, hinting at higher standards in this area:
“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 decide that this place isn’t for you.”
Redundancies are also likely to take place at Meta, Zuckerberg continued:
“Realistically, there are probably a bunch of people at the company who shouldn’t be here.”
Having instilled massive losses on its initial Metaverse operations, Zuckerberg has previously recognized that this was to be expected. The CEO remains bullish on the metaverse and believes the metaverse will attract billions of people to Meta’s platform. He predicted:
“We hope to, basically, get to around a billion people in the metaverse doing hundreds of dollars of commerce each.”
Monetization of the metaverse is something the firm is working hard towards, assuring the scalability. In May, Meta filed five applications for a platform called Meta Pay with the United States Patent and Trademark Office.
The filings include Meta’s brand to be used in “online social networking service for investors allowing financial trades and exchange of digital currency, virtual currency, cryptocurrency, digital and blockchain assets, digitized assets, digital tokens, crypto tokens and utility tokens.”
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Source: igaming
