Meta cuts hiring plans as it prepares for 'serious times'
, Meta is also aiming to monetize Reels as quickly as possible. Time spent on Reels has more than doubled around the world since last year, the memo reads, with 80 percent of that growth coming from Facebook. Cox called Reels, its short-form video format created as an answer to TikTok, a"bright point" for the company in the first half of 2022.
In addition, Meta plans to focus on its AI initiatives, as well as on WhatsApp and Messenger in the second half of the year. It plans to test before the feature launches around the world by the end of 2022. The company is also going to develop Instagram Creator channels and joinable chats, which are slated for rollout in the coming months."I have to underscore that we are in serious times here and the headwinds are fierce. We need to execute flawlessly in an environment of slower growth, where teams should not expect vast influxes of new engineers and budgets.
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