Facebook blocks hiring some engineers while Zuckerberg cuts spending

Facebook blocks hiring some engineers while Zuckerberg cuts spending

  • Mark Zuckerberg said that more employee attrition will ultimately make Facebook a better company.
  • The company recently cut its spending plans by several billion dollars.
  • Hiring breaks are rare for the social media giant.

Facebook has rolled out blocking the hiring of some engineers as the social media giant cuts spending plans and rearranges itself around new priorities, according to people familiar with the situation.

As of last month, Facebook, now called Meta, has suspended hiring engineers at defined levels E3 and E4, people said. They asked not to be identified by discussing sensitive topics. An E3 engineer is considered entry level in the company. An E4 is more of an average level.

A message about the block from a Meta technical program manager, a copy of which was seen by Insider, said it was the result of “hitting the company’s” quotas “for the year for level engineers. E3 and E4. The message did not indicate whether those quotas were the same as in previous years, but noted that the company was still hiring senior engineers and engineering managers.

An Amazon worker also told Insider that they had been interviewing at Meta for the past few weeks, and in the middle of the process a recruiter suddenly claimed that a hiring freeze had been implemented. Another person familiar with the company’s hiring practices said several engineers had recently had interrupted interviews, with a hiring freeze cited as a reason.

Facebook did not respond to multiple requests for comment on Tuesday.

Such breaks are rare for the company. The latest happened near the start of the COVID-19 pandemic, a worker there at the time said. It was put in place due to the inability to train people outside of offices and was short lived.

Last week, Facebook said it planned to cut spending this year to no more than $ 92 billion, down from a previous forecast of $ 95 billion. Its shares have so far fallen nearly 40% this year and other tech stocks have also suffered a setback. Some other companies in the industry have also scaled back their hiring plans this year. Last month, DoorDash’s CEO told staff that the company planned to slow headcount growth. Google Cloud has also been cutting jobs recently.

Managers in other areas of Facebook are still actively hiring, a current employee said. Still, founder and CEO Mark Zuckerberg stressed the importance of the most recent earnings call to talk about a growing attrition rate, or workers choosing to leave Facebook, seeing it as a good thing. The company now has more than 78,000 employees, up 28 percent from last year.

Zuckerberg also noted that while Facebook is still making a lot of hires, there is also a primary focus on moving people within the company, where it is “shifting priorities” to the Reality Labs metaverse division and AI teams. and machine learning. Zuckerberg also said he plans to “slow the pace” of investments in the metaverse.

This block is surprising, insiders said, because Facebook has been so outspoken in hiring new people as it makes the transition to building the “metaverse” risky and costly.

A worker who recently left the company said that such breaks, or ‘silent blocks’, are usually not aimed at mid-level engineers, as these are typically positions with most of the work to be done and turnover. higher.

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