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May 5, 2022 05:35 pm

Facebook Parent Meta Hits the Brakes on Hiring as Growth Stalls

Facebook parent Meta Platforms has announced a sharp slowdown in hiring, ending an extended period in which the tech giant added thousands of jobs a year. From a report: "We regularly re-evaluate our talent pipeline according to our business needs and in light of the expense guidance given for this earnings period, we are slowing its growth accordingly," a Meta spokesperson said in a statement. "However, we will continue to grow our workforce to ensure we focus on long term impact." Specifically, Meta will be halting, or in some cases slowing, hiring for more mid- to senior-level positions, according to the company. This follows a recent pause on hiring early-career engineers a few weeks back. Like other tech giants, Meta has been a hiring juggernaut in recent years, more than doubling the size of its workforce since 2018. At the end of the first quarter, Meta counted 77,800 full-time employees, up 28% from a year earlier, according to the company's most recent quarterly report. The company doesn't have any plans for layoffs at this time, it said. Meta overshot some of its hiring goals -- it hired more people in the first quarter of 2022 than it did in all of 2021 -- and it is adjusting accordingly, the company said. The shift in hiring strategy comes after a string of disappointing quarters for the social-media company.

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