Meta warns its employees of “dangerous times ahead” in the second half of 2022

The American company “Meta” (formerly Facebook) warned its employees of “dangerous times” ahead, and that it is preparing for the second half of this year, “less graceful” in appointments.
“I must stress that we are going through dangerous times here and headwinds are fierce, and we need to perform flawlessly in a slower growth environment,” Chris Cox, head of product at Meta, wrote in an internal memo seen by The Verge. Teams shouldn’t expect massive influxes of engineers and new budgets.”
Cox explained in the memo that “the biggest challenge in revenue comes from privacy changes affecting the advertising business in “Meta”, and macroeconomic pressures,” stressing that monetizing the “Rails” service, which is the version of the “Tik Tok” application for short videos, “. as quickly as possible” is a major priority.
Cox identified 6 areas in which he believes Facebook needs to deepen its investment, which are “Metaverse”, artificial intelligence, chat, and continue to push the “Rails” video service, and meet the new privacy requirements.

Cox also emphasized in his memo that all teams within Meta would have to prioritize more aggressively, without the help of new hires or budgets.
Meta had already told its employees that a slowdown was about to occur, and in May the company froze hiring across a number of teams, including those working on shopping products and video chats.
The company’s stock has collapsed over the past five months, as investors worry about slowing growth and expensive investments in the Metaverse project, which could take years to pay off.