Facebook parent company Meta Platforms Inc has delayed finalizing the budgets of many teams as it prepares for a fresh round of job cuts, the Financial Times reported on Saturday.
In recent weeks, there has been a lack of clarity about future budgets and headcount, the FT reported, citing two Meta employees familiar with the situation.
Meta did not immediately respond to Reuters’ request for comment outside of normal business hours.
Earlier this month, Meta announced that it expected its 2023 costs to be between $89 billion and $95 billion, with its CEO Mark Zuckerberg Call this period the “Effective Year”.
The WhatsApp owner cut more than 11,000 jobs or 13% of its workforce in November, following tech companies like Amazon. com Inc and Microsoft Corp announced thousands of layoffs due to the economic downturn.
