According to audio played at a Thursday employee Q&A, the Facebook founder warned staff to prepare for challenging times.
At the meeting, Mr. Zuckerberg remarked, “If I had to wager, I’d say that this may be one of the biggest downturns that we’ve experienced recently.”
The corporation intends to reduce hiring and set more stringent performance standards for workers. Mr. Zuckberg acknowledged that the raised expectations would result in employee churn, but the tech executive is okay with it.
He informed staff members, “Realistically, there are probably a number of people at the organization that shouldn’t be here.
I think some of you might conclude that this location isn’t for you, and that self-selection is OK with me, which is part of my hope by raising expectations, having more aggressive goals, and just sort of turning up the heat a little bit,” Mr. Zuckerberg continued.
According to The New York Times, the corporation had initially expected to hire about 10,000 engineers this year. According to The Times, Meta, the company that owns Facebook, Instagram, and WhatsApp, has now lowered those goals to between 6,000 and 7,000.
According to the Times’ story, the corporation does not intend to fire employees despite the economic challenges. Chris Cox, the company’s chief product officer, stated in a memo that it must “run smaller, meaner, better executing teams” but that the teams will have to get by with fewer resources.
“I must emphasize that the current situation is dire, and there are strong headwinds. In a slower-growth environment where teams shouldn’t anticipate significant influxes of new engineers and funding, we need to perform flawlessly, Mr. Cox stated in a memo.