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Is a Turnaround Coming? Twitter/X and Facebook Seemingly Hiring

In May, Meta (owner of Facebook, Instagram, and Threads) announced its intention to lay off 10,000 employees. At the end of June, the company employed 71,469 employees, down 18% from September 2022. Business Insider reports that Meta is currently adding employees, particularly in engineering and technical roles. Meta is inviting employees laid off since November to reapply, with the company already having rehired "dozens." There are also reports that Meta hired some former Twitter employees to help launch its Threads service, which competes with Twitter/X. Meta is focused on hiring for software, hardware, and AR/VR engineering, as well as infrastructure and data-center technical work. The company is focused on hiring former workers with good performance feedback and is not making offers to recent graduates and interns.

X, formerly Twitter, says it will also be hiring soon. New CEO Linda Yaccarino told CNBC that the company is transitioning from reining in costs to growing, and "growth means hiring." Musk reduced the number of employees from 8,000 to approximately 1,500 when he took over the social media platform last year. Yaccarino also asserted that advertisers, some of whom had pulled out after Musk took over, plan to return to the platform. Yaccarino said she oversees everything at the company except technology and product development. As of August 11, X/Twitter had yet to list any open positions.