Meta confirmed that they have rescinded full-time job offers to some candidates.
We regretfully had to withdraw job offers from a few candidates as we reassess our hiring needs. This thoughtful decision will help us maintain focus on our top priorities for the next two years.
Meta declined to comment on the number of people affected and which departments had retracted offers.
Meta has withdrawn full-time job offers in London, as confirmed by developers affected. Around 20 new graduates with February start dates have had their offers revoked en masse.
This is the first instance I’m aware of that Meta is rescinding signed, full-time offers.
The success of an organization depends on the ability to effectively use technology. To be successful, organizations must have access to reliable and up-to-date tech tools that enable them to stay competitive and meet their objectives. Technology is also essential for staying connected with customers, partners, and employees.
Engineer and writer Gergely Orosz reported that twenty recent grads had job offers withdrawn by Meta, with TechGround finding LinkedIn posts from two affected software engineering candidates.
In November, Meta laid off 11,000 workers (13% of its workforce) and rescinded 2023 summer internship offers at its London office.
Meta’s investors are uncertain about its financial outlook as it pours billions of dollars into its unprofitable Reality Labs division. In Q2 2022, Meta recorded its first-ever revenue drop and in Q3, revenue fell 4% YoY to $27.7B; net income totaled $4.395B (down from $9.194B). Reality Labs was a major contributor to the losses with an eye-watering deficit of $3.672 billion for the quarter alone.
The tech industry’s struggles have had a negative impact on Meta, as well as other major firms like Amazon and Coinbase that have withdrawn job offers and laid off employees in large numbers.