Meta Platform Inc., Limits Hiring Of New Workers Amid Conditions Of Declining Profits

JAKARTA - Meta Platforms Inc is slowing its workforce growth as Facebook's parent company seeks to control costs. This was explained by a spokesperson for Meta on Wednesday, May 4.

"We regularly re-evaluate our talent pipeline according to our business needs and given the cost guidance provided for this revenue period, we are slowing its growth," a Meta spokesperson said in an emailed statement.

Business Insider, citing internal records to employees, reports that the company is lowering its hiring targets and is temporarily stopping hiring for the rest of the year.

Meta Platforms last week posted its slowest revenue growth in a decade, AND Chief Executive Officer Mark Zuckerberg also said the company would reduce costs.

Meta has experienced severe attacks on its social media like Instagram and Facebook from various governments. In addition, they are also in a hurry when they fight over advertisements with TikTok.

Worst of all is Meta's focus on making the metaverse a reality which requires tremendous funding. Even this is a bet for Meta's life going forward.