Meta is reportedly planning another round of layoffs, the Financial Times reported.
The parent company of Facebook and Instagram has reportedly postponed
finalizing teams' budgets as it makes plans for a restructuring.
- According to the Times, Meta could announce the job cuts after it completes staff performance reviews in March.
- Reports did not specify the projected scope of the layoffs. In November, Meta laid off 11,000 people or 13% of its workforce.
- Meta
staffers also told the Times that employees have done "zero work" in
recent days as managers are unable to plan schedules due to a lack of
clarity.
- Internally, Meta is said to be asking some middle
managers to shift to new roles or leave the company as part of a
"flattening" or "calibration" effort.
- Earlier this month, Mark Zuckerberg said Meta's management theme for 2023 is the "Year of Efficiency."
- During
an earnings call, the CEO said Meta plans to be "more proactive" in
making cuts to underperforming projects or those that aren't as
"crucial."
