© Reuters. FILE PHOTO: The logo of the Meta Platforms business group in Brussels, Belgium, December 6, 2022. REUTERS/Yves Herman
(Reuters) – Facebook parent Meta Platforms Inc (NASDAQ:) has delayed finalizing budgets for several teams as it prepares a new round of job cuts, the Financial Times reported on Saturday.
In recent weeks there has been a lack of clarity around the budgets and the number of future employees, 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 spending to be between $89 billion and $95 billion, with CEO Mark Zuckerberg calling the period a “Year of Efficiency.”
The owner of WhatsApp had cut more than 11,000 jobs or 13% of its workforce in November, following tech companies such as Amazon.com Inc (NASDAQ:) and microsoft corporation (NASDAQ:) which have announced thousands of layoffs due to the economic downturn.
