The company, which is facing increasing difficulties, is cutting many budgets related to human resources.
In late September, Mark Zuckerberg said Facebook needed to freeze hiring, cut staff, and cut its budget to deal with slowing advertising and revenue. For several months, the company has been experiencing an unprecedented crisis: Meta is seeking to reduce its expenses by 10%.
International engineers testified to the American media Business Intern. Several of them claim that Facebook canceled their employment contract a few weeks before they took office.
This particularly concerned a group of engineers who had been admitted to Facebook’s Discover Production Engineering program. This is a 12-month program providing training in systems and software engineering that can lead to full-time employment.
In justification of these contract cancellations, Facebook would have mentioned the “economic conditions”. The company declined to comment on the impact of this hiring slowdown on its program. A company spokesperson also confirmed that the company had recently withdrawn internship offers.
Since the beginning of the year
Already in September the the wall street journal Revealing that Facebook was planning layoffs. The company gives exit-pushed employees a limited amount of time to apply for other positions within the company, before they are asked to leave the workforce.
Meta’s share price has lost more than 56.6% since the start of 2022, and the company’s market value has fallen by more than $685 billion.