Due to cost constraints, Facebook owned by Meta Platform Inc had to reduce hiring at its company.
Through Meta's official notice, the company will make a reassessment following the needs of the business based on the allocation of expenses received for the most recent revenue period.
As a result, it indirectly forces the company to slow down the growth of its workforce.
Company internal sources reported that Meta has lowered its hiring target, in addition to temporarily halting hiring for the remainder of the year.
For the record, last week Meta had seen relatively slow revenue growth over its decade until Chief Executive Officer (CEO) Mark Zuckerberg confirmed that the company had to cut costs.
On a different side, Meta has teased the initial impression of its first physical store.
The store, which will open on May 9, housed in the Meta Reality Labs unit of Silicon Valley Burlingame, California, features floor -to -ceiling screens featuring virtual reality (VR) gaming headsets as well as video calling device testing rooms.
It is believed the design of the store is themed on ‘aesthetics’ which was pioneered by Apple Inc when it set up its retail store.
The opening of the store further reinforces the ideology of the company investing in VR and building a ‘metaverse’, for which the unit is responsible for developing Oculus VR hardware products.
