“In 2023, we're going to focus our investments on a small number of high priority growth areas,” Zuckerberg said.Zuckerberg warned employees in July about “one of the worst downturns that we've seen in recent history” and announced a hiring freeze in September, according to reports.Facebook is in a world of hurt:Parent company Meta shares plunge on weak quarterly earningsLawsuit:Facebook sued over allegations it sidestepped Apple's privacy protections to collect user dataWave of layoffs at tech companiesWith the reportedly planned layoffs, Meta joins a number of tech companies that have recently announced job cuts or hiring freezes after rapid growth during the pandemic, as employers fear the U.S. could enter a recession.'A massive drop in revenue':Musk blames activists for Twitter's woes amid mass layoffsE-commerce giant Amazon announced last week it’s pausing incremental corporate hiring because the economy is “in an uncertain place.”Lyft, meanwhile, said it will layoff 13% of its employees, or about 700 workers.Zuckerberg last year announced Facebook (the company, not the social media platform) was changing its name to Meta to reflect the company's focus on the metaverse, which will take years to develop."