Last Update: February 12, 2023, 09:09 IST
Meta did not immediately respond to a Reuters request for comment outside normal business hours.
Facebook parent Meta Platforms Inc has delayed finalizing the budgets of several teams as it prepares a new round of job cuts, the Financial Times reported on Saturday.
(Reuters) – Facebook parent Meta Platforms Inc has delayed finalizing the budgets of several teams as it prepares a new round of job cuts, the Financial Times reported on Saturday.
The FT reported, citing two Meta employees familiar with the situation, that there had been a lack of clarity in recent weeks about the budget and future workforce.
Meta did not immediately respond to a Reuters request for comment outside normal business hours.
Earlier this month, Meta announced it expected its 2023 expenses to be between $89 billion and $95 billion, a period CEO Mark Zuckerberg called “the year of efficiency.”
The owner of WhatsApp cut more than 11,000 jobs, or 13% of its workforce, in November after tech companies such as Amazon.com Inc and Microsoft Corp announced thousands of layoffs due to the economic downturn.
read all Latest Tech News Here
(This story has not been edited by News18 staff and is published from a syndicated news agency feed)