Meta announced a hiring freeze and plans to restructure teams

Chain Catcher News, Meta CEO Mark Zuckerberg announced at an employee Q&A session that the company will freeze hiring and restructure teams to cut costs. In July this year, Meta stated that amid declining advertising revenue growth and increasing competition, it would "steadily reduce the growth of its workforce." According to a report by the Wall Street Journal, Meta's goal is to cut costs by at least 10%.

It is reported that in the second quarter of this year, both Meta's profits and revenues declined, and its metaverse and virtual reality division, Reality Labs, lost $2.8 billion in the third quarter. (source link)