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Meta revoked a few full-time employment offers

A representative for Meta has verified that the company has withdrawn full-time employment offers from several previous applicants.

A representative for Meta, “As we continue to review our staffing requirements, we’ve taken the painful choice to withdraw offers to a limited number of individuals.” “While this was not an easy choice, it will give us the breathing room to be deliberate as we realign our recruiting through 2023 to reflect our highest priority work.”

Meta did not provide details on how many were affected or which divisions cancelled job offers.

Gergely Orosz, an engineer and author, claims that roughly twenty recent graduates had job offers revoked by Meta’s office. TechCrunch looked at LinkedIn profiles of two rejected applicants who both had software engineering positions lined up before they were rejected.

Internship opportunities for the summer of 2023 at Meta’s London office were already withdrawn. In November, Meta eliminated 11,000 jobs, or 13% of its staff.

Investors are nervous about Meta’s future prospects because of the company’s decision to pour billions of dollars into its loss-making Reality Labs business. Revenue at Meta fell for the first time ever in the second quarter of 2022, and it fell another 4% year over year to $27.7 billion the following quarter. Net income was $4.395 billion, down from $9.194 billion in the prior-year period. The AR/VR business of Meta, called Reality Labs, lost a staggering $3.672 billion in the third quarter on its own.

The status of the technology sector as a whole does not bode well for Meta’s future. Amazon and Coinbase are just two of the many companies that have withdrawn employment offers and conducted widespread layoffs.