10 Things About Tech Meta Blocks Hiring

Hello again. A leaked memo shows that a hiring freeze at Meta will affect “nearly every team” at the company, and we share our picks for the best movies coming to Netflix in May.

Let’s start.


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CEO of Meta, Mark Zuckerberg.


Drew Angerer/Getty Images


1. Meta’s hiring freeze will last all year. According to an internal memo to employees, Facebook’s parent company is cutting hiring targets and suspending hiring for the rest of the year, a rare move as the company seeks to rein in spending and shift priorities.

  • Insider previously reported that in April, Meta suspended hiring of certain levels of engineers – but this hiring pause “will affect the hiring goals of nearly every team in the company,” the manager said. financier David Wehner in the memo.
  • In his memo, Wehner cited the invasion of Ukraine, data privacy changes and an “industry-wide slowdown” as reasons for the hiring freeze.
  • Internally, some employees have sounded the alarm that Facebook’s business is plateauing – and that it could be the next Yahoo.

Read our exclusive report on Meta’s hiring freeze.


In other news:

Amanda Seyfried and Elizabeth Holmes

Amanda Seyfried plays Elizabeth Holmes in Hulu’s “The Dropout.”

Beth Dubber/Hulu; Drew Kelly/Sundance Institute


2. Is your business just eccentric or borderline “cult”? Silicon Valley cult companies — think WeWork or Theranos — have become a cultural obsession, inspiring books and TV shows in recent months. An expert explains the line between loyal teams and problematic workplaces, sharing seven signs your company might be “too bigoted for comfort.”

3. B2B finance startup MainStreet has laid off a third of its staff. In an email to employees, CEO Doug Ludlow said tough market conditions and a push toward profitability were driving the stock. The layoffs saw the company cut around 50 employees. Get the full recap here.

4. Netflix shareholders are suing the company. Following the streamer’s loss of subscribers – its first in the past decade – shareholders allege it misled the market about its ability to attract new customers, Reuters reported. Read the full report.

5. Mental health startup Cerebral is under investigation. Drug Enforcement Administration investigates $4.8 billion backed by SoftBank


telehealth

company, which has come under scrutiny for prescribing highly regulated drugs online without in-person visits. Get the full scoop here.

6. Cameo is laying off 25% of its employees. According to The Information, the app that lets people pay celebrities to send them video greetings has fired more than 80 of its employees. Here is the latest.

7. We explain how to land a Big Tech coding job without a college degree. Tech jobs are booming — and by using coding bootcamps, learning on-demand coding languages, and joining a community of developers, you can land a lot without a degree. Read our tips to get started.

8. Millions of people will soon be receiving checks from Intuit. The company will pay $141 million to settle allegations that its TurboTax software tricked low-income users into paying for services they should have received for free. Here’s how much recipients will get back.


Tips:

Tom Hanks Forrest Gump


Paramount Pictures


9. Here are the best movies coming to Netflix in May. At the start of each month, Insider rounds up the best movies coming to the streamer in the following weeks. This time, among the films not to be missed are “Dirty Harry” and “Forrest Gump”. See our full list here.

10. LinkedIn’s CEO explains how the company updated its culture and values. CEO Ryan Roslansky said a company’s culture and values ​​need to be assessed regularly, and LinkedIn just went through the process of updating theirs. It explains the step-by-step process they followed to update them.


What we’re looking at today:

Invitation to the event: Join us May 9 at 1 p.m. ET for a panel discussion on how to break into tech with no experience — and finally land that six-figure salary. Register here.


Keep up to date with the latest tech news throughout the day by checking out The Refresh from Insider, a dynamic brief audio from Insider’s newsroom. Listen now.


Organized by Jordan Parker Erb in New York. (Comments or advice? [email protected] or tweet @jordanparkererb.) Edited by Hallam Bullock (tweet @hallam_bullock) in London.

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