Facebook Makes Changes to Respond to Slowing Growth

facebook FB) – Get Meta Platforms Inc. Class A Report is preparing for difficult days ahead.

The social media giant has just taken steps to reduce its costs in anticipation of the slowdown in growth predicted by many economists. The firm, which renamed itself Meta Platforms last October, has just decided to change its hiring policy.

Meta plans to halt or in some cases slow hiring for most mid-to-senior level positions, a source told TheStreet. This follows the recent pause on hiring early-career engineers a couple of weeks ago.

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