Meta reportedly planning another round of layoffs

Meta reportedly planning another round of layoffs

Back in November of last year, Meta laid off more than 11,000 employees worldwide as a way to become a "leaner and more efficient" company. It seems that the company is not yet done with this, as Meta is reportedly set to further reduce its workforce in the coming weeks.

A report by the Financial Times said that the company has delayed finalizing the budget of multiple teams while it prepares to announce a new round of job cuts. This has resulted in no work getting done because managers haven't been able to plan their workloads. In fact, projects that usually take days to sign off now take about a month. These even include priority areas, such as the metaverse and advertising.

A few weeks ago, Meta CEO Mark Zuckerberg said that 2023 will be a "year of efficiency" for the company. "We’re focused on becoming a stronger and more nimble organization," he stated. However, one Meta employee familiar with the matter doesn't seem to agree. "Honestly, it’s still a mess,” according to them. "The year of efficiency is kicking off with a bunch of people getting paid to do nothing." Meta has not yet commented on the issue.

Meta is just one of the many companies that have recently conducted mass employee layoffs. Other companies that have also bade goodbye to their staff include Microsoft, Twitter, Amazon, Google, Spotify, and Disney, among many others.