Facebook parent Meta Platforms Inc. has told employees that it will be implementing a hiring freeze and will be taking more steps to reduce the company’s costs, according to people familiar with the matter.
CEO Mark Zuckerberg notified employees of the hiring freeze on Thursday during his weekly all-hands meeting. The announcement comes after The Wall Street Journal last week reported that Meta was planning to cut expenses by at least 10% in the coming months, including by trimming ranks.