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06/12/2022
REUTERS/Yves Herman
(Reuters) – Facebook parent Meta Platforms (NASDAQ:) has delayed finalizing budgets for several teams as it prepares for another round of layoffs, according to a Financial Times report on Saturday.
In recent weeks, there has been no clarity regarding budgets and future employee counts, the FT said, citing two Meta officials familiar with the situation.
Meta did not immediately respond to a request for comment from Reuters outside of business hours.
This month, Meta announced it expects expenditures of between $89 billion and $95 billion in 2023, with Chief Executive Mark Zuckerberg calling the period the “Year of Efficiency”.
The company, which also owns WhatsApp and Instagram, cut more than 11,000 jobs, or 13% of its workforce, in November, following other tech companies such as Amazon.com (NASDAQ:) and Microsoft ( NASDAQ:), which have announced thousands of layoffs due to the economic crisis.
(Reporting by Anirudh Saligram in Bengaluru; Reporting by Anirudh Saligram)