According to a Meta spokesperson, the group plans to slow down the pace of recruitment. Meta faces to the weakest growth in its turnover and to major business challenges: the changes made by Apple with the App Cracking Transparency, the protection of privacy or the war in Ukraine.
Meta will slow down the pace of recruitment
Is Mark Zuckerberg’s group going through a historic turning point? The flat numbers urges Meta to slow down the pace of recruitment. For the first time in its history, Meta presented in the first quarter of 2022 a growth in turnover of less than 10% to reach only a small 27.9 billion dollars (+7%). A news that is not trivial, at a time when the American company is changing strategy and betting on the metaverse.
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According to a Meta spokesperson, “We regularly re-evaluate our talent needs, based on our business needs and, in light of the spending forecasts given for this earnings period, we are slowing the growth in recruitment. However, we will continue to grow our membership.”. In a report published last week, Meta predicted a potential revenue decline in the second quarter 2022 compared to 2021.
The social network adapts according to income
According to David Wehner, the group’s chief financial officer, “the company is facing some problems”. He specifies that the turnover for the year 2022 will probably be between 87 and 92 billion dollars, contrary to the 95 billion dollars announced. As a result, Meta intends to slow down recruitment in most departments of the company. Recruiters have already started pausing their recruiting efforts.
The first difficulties began to appear last year, when many users abandoned Facebook applications. In February of this year, Meta said the number of daily active users fell for the first time in the fourth quarter, although that number picked up again in the first quarter of 2022. Overall, the social media industry takes a hit due to macroeconomic concerns and Russia’s invasion of Ukraine.