CNBC February 1, 2024
Key Points
– Meta CEO Mark Zuckerberg said new hiring will remain “relatively minimal compared to what we would have done historically.”
– Investors have rewarded Zuckerberg and his “year of efficiency” that went into effect in early 2023.
– Fourth-quarter earnings sailed past estimates and the company issued a forecast for the current period that also topped expectations.
Mark Zuckerberg is so pleased with his “year of efficiency” that he’s extending it indefinitely.
On Thursday’s earnings call, after Meta reported fourth-quarter financials that sailed past analysts’ estimates, Zuckerberg said he wants to “keep things lean” and has no plans to accelerate hiring.
Headcount, which peaked well above 86,000 in 2022, shrank 22% last year to 67,317, as Meta instituted...
Today's Sponsors
Today's Sponsor