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Meta Reportedly Readying To Fire 1000s This Week

Zero Hedge | Nov. 6, 2022

Just over a week ago, Meta CFO Dave Wehner confidently stated that the not-so-giant tech firm will basically freeze headcount and limit new hiring…

Our pace of hiring slowed in the third quarter, consistent with our previously-stated plans. We added 3,700 net new hires in Q3, down from our Q2 net additions of 5,700 despite Q3 typically being a seasonally stronger hiring period. We expect hiring to slow dramatically going forward and to hold headcount roughly flat next year relative to current levels…

We are making significant changes across the board to operate more efficiently. We are holding some teams flat in terms of headcount, shrinking others and investing headcount growth only in our highest priorities. As a result, we expect headcount at the end of 2023 will be approximately in-line with third quarter 2022 levels.

At the time, we were a little surprised (given the scale of the losses)…

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