Many teams are going to shrink so we can shift energy to other areas, and I wanted to give our leaders the ability to decide within their teams where to double down, where to backfill attrition, and where to restructure teams while minimizing thrash to the long-term initiatives. "Our plan is to steadily reduce headcount growth over the next year. But it said that sales would slow as we lap periods of increasingly strong growth. The tech giant saw revenue rise to 29bn (£21bn) in the three months to 30 June, up from 18.69bn last year. “Given the continued trends, this is even more of a focus now than it was last quarter," Zuckerberg said at the time. Facebook has warned that it expects revenue growth to slow down significantly in the second half of 2021. The company directed Engadget to remarks Zuckerberg made during Meta's most recent earnings call in July. Measures may include moving people to other teams and not hiring replacements for folks who leave. Zuckerberg is said to be leaving headcount decisions in the hands of team leaders. The company is planning to reduce budgets for most of its teams, according to Bloomberg. ![]() “I had hoped the economy would have more clearly stabilized by now, but from what we're seeing it doesn't yet seem like it has, so we want to plan somewhat conservatively,” Zuckerberg reportedly told employees. Now, Bloomberg reports that Meta has put all hiring on hold.ĬEO Mark Zuckerberg is also said to have told staff that there's likely more restructuring and downsizing on the way. Thursday, July 29th, 2021 12:15 am Facebook’s Q2 advertising revenue soared 56 to 28.5 billion year-over-year, though the company warned investors it expects a revenue slowdown beginning in Q3 the same time it will feel the full impact of Apple’s recent AppTrackingTransparency changes. Reports in May suggested that the company would slow down the rate of new hires this year. With respect to guidance for the second half of the year, Facebook said it expects year-over-year total revenue growth rates to decelerate significantly on a sequential basis as we lap. As with many other industries, the tech sector has been feeling the squeeze of the global economic slowdown this year. SAN FRANCISCO: Facebook Inc said on Wednesday it expects revenue growth in the third and fourth quarters to " decelerate significantly," sending the social media giants.
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