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Meta prepares for “strong” headwinds in the second half

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Facebook owner Meta Platforms Inc. is bracing for a tougher second half of the year as it grapples with macroeconomic pressures and data privacy blows at its ads business, according to an internal memo seen Thursday by Reuters.

The company must “prioritize more relentlessly” and “operate with leaner, more aggressive and better executed teams,” Chief Product Officer Chris Cox wrote in the memo, which appeared on the company’s internal discussion forum Workplace.

I have to stress that we are in tough times and the headwinds are fierce. We need to run smoothly in a slower growing environment, where teams should not expect huge influxes of new engineers and budgets,” Cox wrote.

Meta did not immediately respond to a request for comment.

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