Last Updated: February 12, 2023, 09:09 IST
Meta did not immediately respond to a Reuters request for comment outside of normal business hours.
Facebook parent Meta Platforms Inc has delayed finalizing the budgets of multiple teams as it prepares a fresh round of job cuts, the Financial Times reported on Saturday.
(Reuters) – Facebook parent Meta Platforms Inc has delayed finalizing the budgets of multiple teams as it prepares a fresh round of job cuts, the Financial Times reported on Saturday.
In recent weeks there had been a lack of clarity surrounding budgets and future head count, the FT reported, citing two Meta employees familiar with the situation.
Meta did not immediately respond to a Reuters request for comment outside of normal business hours.
Earlier this month, Meta announced that it expects its 2023 expenses at between $89 billion and $95 billion, with CEO Mark Zuckerberg calling the period a ”Year of Efficiency.”
The WhatsApp owner had cut more than 11,000 jobs or 13% of its workforce in November, following such tech companies as Amazon.com Inc and Microsoft Corp which have announced thousands of layoffs due to the economic downturn.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)
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