Facebook parent meta slows hiring, halts hiring for year

The company said Wednesday that the meta platform is slowing its workforce growth as the Facebook parent seeks to rein in costs. A Meta spokesperson said in an e-mailed statement, “We regularly reevaluate our talent pipeline in accordance with our business needs and, in light of the expense guidance provided for this earnings period, we are slowing its growth.” Huh.”

Business Insider, citing an internal note to employees, informed of That the company was falling short of hiring targets and temporarily stopped hiring for the rest of the year.

Meta Platforms posted its slowest revenue growth in a decade last week with the CEO Mark Zuckerberg It is also saying that the company will reduce costs.

During this, meta platform gave an early Wednesday Glimpse of your first physical storeWhich has floor-to-ceiling screens for showing games on its virtual reality headsets and rooms for testing video calling equipment.

The store, set to open May 9, is located on the main campus of Meta’s Reality Labs unit in the Silicon Valley city of Burlingame, California. The unit is developing the hardware products the company aims to sell there, including Ray-Ban smart glasses, Portal video-calling devices and Oculus VR headsets.

Meanwhile, with growth slowing and the company still relying almost entirely on digital ads for revenue, Meta is cutting back on some of its long-term investments.

In addition to promoting its hardware devices to consumers, Meta is increasingly offering them to businesses. It gave a demonstration at the store of conference calls that could have a mix of virtual reality avatars and traditional video calling.

Micah Collins, director of product management working on Enterprise Tools, said the company is experimenting with augmented reality technology, which will enable users to attend conferences as avatars through Portal without a headset.

Collins acknowledged that the enterprise Metaverse business is nascent, and a spokesperson said that much of the use of Horizon Workroom, the VR conferencing technology, comes from inside Meta.

Still, Collins said, the company senses opportunity.

Although many products are still in very early stages and are known in their consumer context, “there is enough out there that is giving us great confidence to attack the space,” he said.

© Thomson Reuters 2022


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