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

Recent Posts

How Trump’s tariffs are triggering global crypto tumult

A fierce new chapter of U.S. economic nationalism is shaking the global financial system—and the…

1 week ago

Airbnb donates $8.5 million to global nonprofits, extending support to African communities

In a world where economic challenges and social disparities continue to deepen, Airbnb is directing…

2 weeks ago

In Africa’s tech outsourcing boom, AI threatens nearly half of jobs by 2030

As Africa positions itself as a global hub for business process outsourcing (BPO), new research…

2 weeks ago

Zambia launches digital entrepreneurship training for youth, backed by Nokia and Airtel

Zambia has launched a new online entrepreneurship training program aimed at equipping young people with…

2 weeks ago

DDoS attacks surge amid global political unrest, NETSCOUT report finds

A new report from NETSCOUT Sytems reveals a troubling trend in the intersection of cyberwarfare…

2 weeks ago

Kenyan computing students get a head start with AWS cloud training at UoN

Before enrolling in a recent training program led by Amazon Web Services (AWS), Cecilia K’Owiti,…

3 weeks ago