Leaked information from internal Meta leadership messages to employees shows that the company is facing a difficult period.
Chris Cox – Product Manager of Meta recently sent information to company employees, warning that the business is going through “dangerous times” and needs to be better prepared for the second half of 2022. .
“I must emphasize that we are in period and facing severe headwinds. People need to act flawlessly in the context of slower growth and groups should not expect to be in the future. hiring more engineers or providing more funding”, The Verge quoted the text of Cox’s message that they received.
He also shared that policy the privacy (set by Apple on iOS) is affecting Meta’s advertising business, as well as macroeconomic pressures that have created challenges in terms of revenue. revenue for the business. Cox added that the top priority right now is to monetize “as soon as possible” from Reels, a form of short video it copied from TikTok .
Company leaders believe that there are 6 areas where Facebook needs to invest more heavily, including products in the virtual universe (metaverse), artificial intelligence (AI), messaging , continuing to promote Reels, creating business. collect and adapt to new privacy-related requirements.
Meta reminded employees of the prospect of slow growth in May. The company has temporarily stopped hiring new employees in various departments. Over the past five months, the company’s stock has often been in a state of decline as investors worry about growth as well as expensive investments in the metaverse that can take years to turn a profit.