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    You are at:Home»News»Meta Plans New Round of Layoffs as it Delays Setting Team Budgets
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    Meta Plans New Round of Layoffs as it Delays Setting Team Budgets

    Abdulateef AhmedBy Abdulateef AhmedFebruary 12, 202301 Min Read
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    The Financial Times reported on Saturday that Facebook parent Meta Platforms Inc. has postponed finalising the budgets of numerous teams as it prepares for a new wave of job cutbacks.

    Meta Plans New Round of Layoffs As It Delays Setting Team Budgets  (News Central TV)

    According to two Meta employees familiar with the situation, there has been a lack of clarity in recent weeks regarding finances and future head count.

    Meta said earlier this month that it anticipates its 2023 spending to range between $89 billion and $95 billion, with CEO Mark Zuckerberg referring to the time as a “Year of Efficiency.”

    In November, the WhatsApp owner cut more than 11,000 jobs, or 13 percent of its workforce, following in the footsteps of tech businesses like as Amazon.com Inc. and Microsoft Corp., which announced thousands of layoffs due to the economic downturn.

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    Abdulateef Ahmed

    Digital News Editor | Research Lead Abdulateef is a self-driven Researcher renowned for his exceptional editorial skills. He is a literary bon vivant with a keen interest in greener energy, macroeconomics, big data, efficient systems, Africa's political economy, aviation, and pan-African dialogues. His innovative thinking extends even into his dreams, where he crafts solutions,in his sleep, to nonexistent problems.

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