|Bid||0.00 x 800|
|Ask||138.01 x 1100|
|Day's range||135.20 - 139.84|
|52-week range||134.12 - 353.83|
|Beta (5Y monthly)||1.30|
|PE ratio (TTM)||11.45|
|Earnings date||24 Oct 2022 - 28 Oct 2022|
|Forward dividend & yield||N/A (N/A)|
|1y target est||224.29|
Yahoo Finance Live anchor Seana Smith details a new report that Meta is planning to cut costs, freeze hiring, and restructure its teams.
Facebook’s parent company Meta has announced that it is implementing a hiring freeze “for most roles across the company” and will “minimise costs”, as the social media group battles an advertising slump and rising competition. In an internal memo to staff seen by the Financial Times, Lori Goler, Meta’s head of people, wrote that starting on Friday the company would “pause sourcing candidates and will not make any offers until the freeze is lifted later this year”. “Our 2023 budget is going to be very tight across all teams as we try to minimise costs,” Goler wrote.
"I had hoped the economy would have more clearly stabilized by now, but from what we're seeing it doesn't yet seem like it has, so we want to plan somewhat conservatively," Zuckerberg told employees during a weekly Q&A session, Bloomberg News reported. The social media company had cut plans to hire engineers by at least 30% this year, Reuters reported in June. Zuckerberg also said on Thursday that Meta would reduce budgets across most teams and that individual teams will have to resolve how to handle headcount changes, the report added.