Facebook is expecting to hire 10,000 workers, by the end of 2020, for its product and engineering department. It is unclear at this time that how many new hires will join as full-time or the number include contractors. With the new hiring, the headcount of the social media company will increase by 22% which at the end of last year stands at 44,900.
Sheryl Sandberg, COO of Facebook, in an interview with Scott Wapner of CNBC, said that Facebook is doing the hiring in a determined and forceful way to keep up our service quality, so people do not disconnect with the world. “Our hiring is keeping at a very, very aggressive clip,” she said in a statement
Sandberg stated that she feels fortunate about the new hirings as Facebook will not let go of any of its current employees. “We also have the responsibility to do that — to keep our employees, but hopefully hire more because we need them,” she added further.
The whole world is suffering from the COVID-19 pandemic crisis, in one way or the other. The global economy is considered to fall dramatically, and the financial crisis is forcing companies to drop out of their employees. Opposed to this epidemic situation, Facebook steps forward and now plans to hire to continue improving its services.
What’s new in Facebook for Business?
In addition to that, Sandberg also revealed some other plans of Facebook. She made it public that from now onwards, small businesses will be able to send gift cards to their customers through Facebook. The company is now making it easy for businesses to discover digital gift cards to support their local businesses.
Facebook allows the businesses to choose between the two of its partners, Square and Kabbage, to set up the gift card. Sign up the account in the selected partner to completely set up the card, following the instructions. Once set, people could see your cards and purchase accordingly.
“That’s a great way to support a business. If you can’t use their services now, you can pay now, give them the cash and do it later,” Sandberg said in an interview.
Over and above, small businesses can also now raise funds using the Facebook platform. Before that, only non-profit organizations or specific people were allowed to raise funds, but now Facebook is expanding its fundraising platform for small businesses. However, so far it allows only people from certain countries to raise funds.
Facebook drive for the new hiring is a significant initiative as unemployment escalated to 6.6 million in a week that breaks the record with an increase in 3.3million. The Labor Department recently reported that 6.64 million Americans have filed for unemployment insurance as people are more fearful of laying off due to crisis.
“These are unprecedented numbers, but we’re also facing an unprecedented pandemic,” said Joseph Song, Economist at the Bank of America.
Facebook made $70.697 billion in annual revenue last year.
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