Facebook Inc. is planning to aggressively this year as a result of the economic slump. “No one else has been hiring” stated Facebook CEO Mark Zuckerberg. “It’s been a great environment for us because the economy has helped out.”
Facebook plans to expand their employees by about 50% this year as there are a surplus of engineers available in the job market.
Facebook has around 1,000 employees. But Zuckerberg also wants to maintain costs in order to reach positive cash flow by next year. The company is still researching innovative ways to prove themselves to advertising companies.
Facebook has about $716 million in funding and has made a couple of acquisitions in the last two years. Earlier this month Facebook acquired FriendFeed for $47.5 million.