Facebook Chief Product Officer Chris Cox is direct in telling employees that “serious times” are ahead. The press reports contents of a “memo,” which appears to be a formal email or perhaps post on an intranet.

Organized by six “investment priorities,” the memo starts neutrally: “Every six months, we take stock of our product portfolio and investment plans across the company to assess how we are doing and chart the way forward.” But the tone and recommendations clearly represent tough decisions ahead that affect staff.

With no specific plans for layoffs, warnings come at the end of the memo:

I have to underscore that we are in serious times here and the headwinds are fierce. We need to execute flawlessly in an environment of slower growth, where teams should not expect vast influxes of new engineers and budgets. We must prioritize more ruthlessly, be thoughtful about measuring and understanding what drives impact, invest in developer efficiency and velocity inside the company, and operate leaner, meaner, better exciting teams.

Business communication students will notice lots of jargon, for example, “These are the areas where we see the biggest opportunities for angle-changes in the value we can deliver for people, or businesses, or for our own business, by investing disproportionately relative to our current baseline.” Out with the old; in with the new?

The memo echos a recent meeting CEO Mark Zuckerberg held with staff. Demonstrating vulnerability, he said that Meta is facing the “worst downturns that we’ve seen in recent history” and that hiring will slow. He also gave staff permission to leave:

I think some of you might decide that this place isn’t for you, and that self-selection is OK with me, [and]“Realistically, there are probably a bunch of people at the company who shouldn’t be here.

These warnings are helpful to manage employees’ expectations and to get them on board for the type of belt-tightening company leaders want. Meta might lose people, but this is an attrition strategy that could work in the company’s favor—opening up positions for new people with skills Meta needs going forward.