Mark Zuckerberg says Meta will ‘keep things lean,' going big in AI with a lid on hiring

Meta CEO Mark Zuckerberg announced that the company’s hiring will remain minimal compared to previous years. This decision comes after Meta’s successful “year of efficiency” in 2023, which resulted in strong fourth-quarter earnings surpassing expectations. The company’s headcount decreased by 22% in the past year due to cost-cutting measures implemented to regain investor confidence. Despite this, Meta’s stock value almost tripled in 2023 and its market cap exceeded $1 trillion. Zuckerberg emphasized the importance of maintaining a lean organization and focusing on building a world-class compute infrastructure. Meta’s Reality Labs unit, dedicated to virtual and augmented reality technologies, reported significant operating losses while continuing to invest in the future of the metaverse.