Mark Zuckerberg’s Meta reportedly rehires ‘dozens’ after slashing 21,000 jobs

Meta has reportedly rehired “dozens” of the 21,000 workers who’ve been laid off as a part of Mark Zuckerberg’s large cost-cutting push since final yr.

The Fb and Instagram guardian introduced again the laid-off employees in latest weeks, Insider reported on Thursday, citing three sources acquainted with the corporate’s strikes.

Whereas Meta has largely halted hiring as a part of Zuckerberg’s so-called “yr of effectivity,” the report stated the corporate has “quietly picked up hiring in sure areas” throughout a latest upturn in Meta’s fortunes.

The brand new hires are reportedly in engineering and technical roles.

The precise quantity who’ve rejoined Meta was not instantly clear.

The Put up has reached out to Meta for touch upon the report.

The profession board on Meta’s web site nonetheless options an array of job openings, together with many engineering-focused roles, in places across the nation. Insider stated the corporate has “a whole lot” of open roles regardless of Zuckerberg’s austerity measures.

Ousted workers are purportedly capable of re-apply for jobs at Meta by an “alumni portal.”

Skilled former Meta engineers with sturdy efficiency histories on the firm have been most probably to be rehired, and plenty of are taking gigs with much less seniority and decrease pay, in line with the report.

Generally, Meta is claimed to be targeted on bringing in workers with extra profession expertise within the restricted hiring cycle.

Zuckerberg hinted at Meta’s hiring plans in the course of the firm’s most up-to-date earnings name on July 26, noting that he could be “persevering with to run the corporate as lean as doable” and headcount progress could be “comparatively low.”

“That stated, as a part of this yr’s layoffs, many groups selected to let folks go with a purpose to rent totally different folks with totally different abilities that they want, a lot of that hiring goes to spill into 2024,” Zuckerberg stated.

Meta is within the midst of a scorching streak, bolstered largely by improved monetary outcomes and investor enthusiasm over Zuckerberg’s cost-cutting strikes.

The corporate laid off about 21,000 employees, or roughly 1 / 4 of its earlier workforce, in a number of rounds that concluded in Might.

The corporate’s inventory has surged greater than 145% to almost $306 per share since January. The latest uptick occurred after Meta beat Wall Avenue’s expectations for ad revenue in its second-quarter results.

The corporate additionally generated main buzz with its launch of Threads, a text-based social media app that has emerged as a direct risk to X, the Elon Musk-owned firm previously often called Twitter.

Threads generated greater than 100 million downloads after its debut final month, although greater than half of that person base has since departed.

The inventory rally has occurred regardless of revelations that Meta’s Reality Labs division has lost more than $21 billion as Zuckerberg pours cash into creating metaverse know-how.