.Facebook pulls internship offers as part of effort to cut costs
Meta sent emails revoking the internships to people who were set to start working in the company's London offices in January 2023, according to the New York Post. The decision was made after the company reported its first decline in revenue in the second quarter of 2022 and Meta founder Mark Zuckerberg reported a $70 billion reduction in net worth.Meta confirmed that it was rescinding the offers."Meta interns are crucial in shaping our future," a spokesperson said.
The internship freeze arrived weeks after Meta began a companywide freeze on hiring. The company has been removing several positions through department organizations and encouraging staff to apply for other open positions. Meta later announced on Sept. 29 that it was cutting its headcount and slashing budgets across the company.The company experienced a 1% decline in revenue last quarter, according to a July earnings report.
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