Mark Zuckerberg has now announced for the first time that Meta will stop hiring new employees, in addition to reducing operating costs.
This move is seen to be in line with the recent reduction in Meta's income, in addition to the effects of the global economy being slower than before.
In fact, Meta's stock trading price itself showed a drastic fall this year.
It was also announced that various teams at Meta would be reduced in size, allowing Meta to focus their energy and attention on their core product areas.
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BUSINESS & MONEY