Exclusive-Meta girds for ‘fierce’ headwinds, slower growth in second half -memo
By Katie Paul
(Reuters) – Fb-owner Meta Platforms Inc is bracing for a leaner second half of the yr, because it copes with macroeconomic pressures and information privateness hits to its advertisements enterprise, in keeping with an inner memo seen by Reuters on Thursday.
The corporate should “prioritize extra ruthlessly” and “function leaner, meaner, higher executing groups,” Chief Product Officer Chris Cox wrote within the memo, which appeared on the corporate’s inner dialogue discussion board Office.
“I’ve to underscore that we’re in critical instances right here and the headwinds are fierce. We have to execute flawlessly in an surroundings of slower development, the place groups shouldn’t anticipate huge influxes of recent engineers and budgets,” Cox wrote.
Meta didn’t instantly reply to a request for remark.
(Reporting by Katie Paul; Enhancing by Kenneth Li and Lisa Shumaker)
