Facebook owner Meta is bracing for a sharp downturn, with plans to cut 30% of engineer jobs this year, Chief Executive Officer Mark Zuckerberg told employees on Thursday, Reuters reported. “If I had to bet, I’d say this might be one of the worst downturns that we’ve seen in recent history,” Zuckerberg said during a weekly meeting with employees. He said the company’s plan to hire engineers had been cut to 6,000 to 7,000 from an original target of 10,000, would also be leaving some jobs unfilled and also pressure managers to weed out underperforming workers. “Part of my hope by raising expectations and having more aggressive goals, and just kind of turning up the heat a little bit, is that I think some of you might decide that this place isn’t for you, and that self-selection is OK with me,” he said, according to Reuters, which listened to an audio file of the meeting. A separate memo from Chief Product Officer Chris Cox said the company was in “serious times,” with “fierce” headwinds.
"Going forward, any Twitter handles engaging in impersonation without clearly specifying 'parody' will be permanently suspended," Musk tweeted Sunday evening.
Barbara Kollmeyer is based in Madrid, where she leads MarketWatch’s pre-markets coverage of financial markets and writes the Need to Know column. She has worked in London and Los Angeles for MarketWatch previously. Follow her on Twitter @bkollmeyer.
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