Meta hiring slowdown happened long before this announcement, not too many people paid attention to it. Meta had a few new roles they created but after the February’s earning call those roles got scraped. Meta also is closing down Audio Hub, having issues with their E-commerce division and Apple Privacy feature is killing them softly. Not to mention they are worried about TikTok so they are trying to stay competitive with them.

Bottom line, they have stretched themselves way too thin and they have to regroup. Last week’s earnings call was an improvement but if they want to compete for the long haul they have to regroup, slow down spending and address each one of the things that are causing them problems. They are already doing this. For example they are creating a brick and mortar store to educate and sell their own products. This will help the Metaverse in the long run and allow them to generate an additional revenue stream through the selling of products. This in turn will help make up for the money they are losing via Apple’s privacy policy.

Next they have to stop going after every current trend. They created Audio Hub to compete with Apple and Spotify podcasting network and they didn’t foster the growth of this feature; it failed. Meta in turned wasted resources and time with this. They wanted to compete with Shopify and other E-commerce so they launched Shops. They are not providing basic shopping features to merchants, that’s not being addressed. Hopefully this slowdown will help them in these areas as well as prevent layoffs.