Mark Zuckerberg: “We’re Turning Up the Heat at Meta So Employees Will Quit”

So apparently things escalated rather quickly for employees over at Facebook.

In recent news, a leaked audio of an employee Q&A session was released where Mark Zuckerberg announced his plans to slash hiring plans and embrace for ‘fierce’ turbulence with the looming market corrections.

In preparation for the economic times ahead, Faceook will be reducing the number of engineers they planned to hire by at least 30% this year which is about 6,000-7,000 (down from the 10,000 they were planning to hire).

 

“If I had to bet, I’d say that this might be one of the worst downturns that we’ve seen in recent history,” -Mark Zuckerberg

In addition to reducing hiring, Zuck said the company was “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 in the Q&A.

“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.

Which makes you wonder, how freaking bad is this economy going to get if the guy worth $70 billion dollars is nervous?

On the flip side it is worth noting for context, in addition to their market concerns with a looming recession, Facebook lost about half its market value this year, after Meta reported that daily active users on its app had experienced a quarterly decline for the first time since forever…

WATCH:

 

You might also like

“All things being equal, people will do business with, and refer business to, those people they know, like and trust.”...
Would you be surprised to know that the invention of Doritos was influenced by a trashcan at Disneyland? In the...
According to Ziprecruiter, as of Aug 5, 2022, the average annual pay for a “Motivational Speaker” in the United States...
Hearing the phrase “you’re such a con-artist!” coming from the lips of a potential investor during a live pitch is...
Did everyone agree with everything you said at the last meeting of your top executive team? Did everybody follow the...
Subway currently holds the status of being the biggest fast-food chain on the planet. They surpassed McDonald’s and KFC’s store...
Did you know 60% of professional athletes end up broke within 5 years of retiring? Not Shaq though. Far from it,...
In 2012, Jack Conte and his wife, Nataly Dawn, were known as the indie band called Pomplamoose. They were bringing...
Did you know that only 9% of b2b companies rate their digital promotional efforts as highly effective? So chances are...
Nearly every self-made billionaires are obsessed with learning. This video reveals the top to recommended books that had the biggest...
“If you’re starting a company, you always want to aim for a monopoly and avoid competition. Hence, competition is for...
Meet the Former MMA fighter, high school dropout, and single father who had absolutely zero business background bought a business...