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Facebook parent Meta to slow hiring as costs mount


Meta Platforms Inc is slowing the expansion of its workforce because the Facebook mother or father seems to rein in prices, the corporate mentioned on Wednesday.

“We frequently re-evaluate our expertise pipeline in response to our enterprise wants and in mild of the expense steering given for this earnings interval, we’re slowing its progress accordingly,” a Meta spokesperson mentioned in an e-mailed assertion.

Enterprise Insider, citing an inside observe to staff, reported that the corporate was lowering hiring targets and had briefly stopped hiring for the rest of the yr.

Meta Platforms final week recorded its slowest income progress in a decade, with Chief Govt Officer Mark Zuckerberg additionally saying the corporate would cut back prices.

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