MARK Zuckerberg has plans to reduce Meta’s hiring and restructure internally.

Meta CEO Mark Zuckerberg announced plans to pause hiring and cut budgets across all teams, Bloomberg reported.

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Budget cuts on this scale mark a first for the company since Facebook’s founding in 2004.

Zuckerberg said the company will downsize and reorganize to cut costs and focus on its priorities.

The billionaire announced the plans during a weekly question-and-answer session with employees, according to Bloomberg.

He added that the company would cut budgets on most equipment, including those it recently invested in.

“I was hoping the economy would have stabilized more clearly by now,” Zuckerberg said…