Fresh Layoffs loom as Meta delays team budgets

Meta has delayed finalizing the budgets of multiple teams as fresh job cuts loom, Reuters reported.

According to Reuters, there had been a lack of transparency over finances and projected head counts in recent weeks.

Earlier this month, Meta outlined its expectations for the year 2023, with expenses at between $89 billion and $95 billion.

Chief Executive Officer of Meta, Mark Zuckerberg  said 2023 was a, “Year of Efficiency.”

In November 2022, the firm cut off more than 11,000 jobs which equal 13% of its workforce.

Other giant tech companies such as Amazon and Microsoft also announced thousands of layoffs due to the tough economic times.

 

Diana Mutheu

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