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Zuckerberg’s Meta Massacre: Budgets Slashed, Hiring Freeze

'I had hoped the economy would have more clearly stabilized by now, but from what we're seeing it doesn’t yet seem like it has... '

(Jacob Bruns, Headline USA) Mark Zuckerberg‘s alternative universe creation Meta has hit another snag, this time financial.

The news comes only a week after Zuckerberg announced Facebook’s first ever downsizing, the Post Millennial reported.

“I had hoped the economy would have more clearly stabilized by now, but from what we’re seeing it doesn’t yet seem like it has, so we want to plan somewhat conservatively,” Zuckerberg said.

“For the first 18 years of the company, we basically grew quickly basically every year, and then more recently our revenue has been flat to slightly down for the first time,” he added.

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Yure Pablo, a Brazilian computer science student, wrote in a LinkedIn post that he had turned down other offers to work for Zuck, but is now left with nothing.

“I changed plans and discarded another offer for 2023 due to this offer,” he wrote. “So if anyone can help me with [other] opportunities for the next year, I would be glad to apply.”

“Since the beginning of the year when I applied and got the offer, for me, a Latin American, people underrepresented most of the time, it was a watershed for my career, my family,” he added.

Meta spokesperson Andrea Beasley tried to ease pressure on the company, framing the downsizing as a good thing for the future of the company.

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“Meta interns are crucial in shaping our future,” Beasley said. “This difficult decision was not made lightly and was made as a last resort. This companywide hiring shift is to ensure that our hiring targets are aligned with our highest-priority efforts and business needs.”

According to some rumors from the inside, 12,000 employees, or 15% of the entire Meta workforce could be cut in the coming weeks.

The Facebook finance plunge has taken its toll on Zuckerberg’s personal wealth, which took a huge hit in 2022, plunging nearly $71 billion and knocking him down to the 20th richest person in the world rankings.

The large majority of Zuckerberg’s wealth is anchored by Meta stock, which has dropped 57% this year.

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