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Facebook’s internal memo warns that companies will be disciplined and need to be prioritized

Facebook’s internal memo warns that companies will be disciplined and need to be prioritized


Chris Cox, Meta’s Chief Product Officer, spoke about WEF in Davos, Switzerland, on May 25, 2022.

Adam Galica | CNBC

Facebook’s parent company, Meta, warns employees to expect tough in the second half of this year as it continues to overcome challenges related to its core online advertising business amid the economic downturn.

Chris Cox, Meta Chief Product Officer, detailed the company’s financial dilemma in an internal memo detailing the key areas where social media giants are planning to invest, a spokesman confirmed to CNBC. did. This memo was previously reported by Reuters.

Cox reiterated a statement made by Meta CEO and co-founder Mark Zuckerberg over the phone with analysts as part of the company’s first-quarter earnings report. It details the negative impact on the company’s business caused by Apple’s privacy update to the iPhone last year.

Meta executives added that the company “is in a serious time here and the headwinds are fierce,” and emphasized that the challenge is unlikely to disappear soon.

“We need to run perfectly in a slow-growing environment. Teams shouldn’t expect a large influx of new engineers or budgets,” Cox writes. “We think about prioritizing more ruthlessly, measuring and understanding what impacts, investing in the efficiency and speed of in-house developers, slimmer, mean, and more exciting. You need to run a good team. “

To offset the impact of Apple’s update, which limited Facebook’s ability to target ads to specific audiences, Cox is working hard to make money from TikTok’s rival Instagram Reels, and TikTok’s He said he is investing in AI to promote content recommendations. As the company said before.

Meta also plans to invest in features that make it easier for retailers to show ads to customers in their app family and enable employees to communicate with the company through messaging.

A spokesperson for Meta disregards the importance of internal notes to CNBC and states: We will put more energy into dealing with it. “

In after-hours trading on Thursday, meta stocks were relatively flat at $ 161.10.




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