(Reuters) – Meta Platforms Inc is slowing the expansion of its workforce because the Fb (NASDAQ:) dad or mum appears to be like to rein in prices, the corporate stated on Wednesday.

“We recurrently re-evaluate our expertise pipeline in accordance with our enterprise wants and in mild of the expense steering given for this earnings interval, we’re slowing its development accordingly,” a Meta spokesperson stated in an e-mailed assertion.

Enterprise Insider, citing an inner be aware to staff, reported that the corporate was decreasing hiring targets and had briefly stopped hiring for the rest of the 12 months.

Meta Platforms final week recorded its slowest income development in a decade, with Chief Govt Officer Mark Zuckerberg additionally saying the corporate would cut back prices.