Zuck is sounding very Musky here:
CNN Business/Reuters headline: Meta slashes hiring plans, girds for ‘fierce’ headwinds
Updated 9:02 AM ET, Fri July 1, 2022
In addition to reducing hiring, he said, the company was leaving certain positions unfilled in response to attrition and “turning up the heat” on performance management to weed out staffers unable to meet more aggressive goals.
“Realistically, there are probably a bunch of people at the company who shouldn’t be here,” Zuckerberg said.
“Part of my hope by raising expectations and having more aggressive goals, and just kind of turning up the heat a little bit, is that I think some of you might decide that this place isn’t for you, and that self-selection is OK with me,” he said.
After re-reading, this second warning from the CPO Chris Cox makes me wonder how long it will be before the downgrades by analysts begin for $META?
The company must “prioritize more ruthlessly” and “operate leaner, meaner, better executing teams,” Chief Product Officer Chris Cox wrote in the memo, which appeared on the company’s internal discussion forum Workplace before the Q&A.
“I have to underscore that we are in serious times here and the headwinds are fierce. We need to execute flawlessly in an environment of slower growth, where teams should not expect vast influxes of new engineers and budgets,” Cox wrote.
The memo was “intended to build on what we’ve already said publicly in earnings about the challenges we face and the opportunities we have, where we’re putting more of our energy toward addressing,” a Meta spokesperson said in a statement.