Meta plans further job cuts, delays in setting team budgets: “A number of…

Meta plans further job cuts, delays in setting team budgets: “A number of…

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Facebook parent Pursue Metaplatforms Inc META is preparing for a new round of job cuts and has delayed the completion of several teams’ budgets, according to the Financial Times.

In recent weeks, the company has not provided the necessary clarity on budgets and future headcount, FT reports, citing Meta staff familiar with the situation.

Staff have complained that “zero work” is being done as managers are unable to plan their upcoming workload, FT quoted workers as saying.

“Honestly, it’s still a mess,” said one worker. “The year of efficiency starts with a bunch of people getting paid to do nothing.”

Earlier this month, Meta fourth quarter reported First Quarter Financial Results and Outlook.

Meta CEO Mark Zuckerberg said in the receipts Release that 2023 would be the year of efficiency for metaplatforms.

People familiar with the situation told the Times that projects and decisions that normally take days to be approved are now taking about a month in some cases, even in priority areas.

Also read: Is Facebook’s VR division failing? Losses total $13.72 billion in 2022

Last month, Zuckerberg hinted at possible further layoffs after the social media giant announced it would cut 11,000 jobs, or 13% of its total staff, last November.

Zuckerberg said he wasn’t in favor management levels in the company, indicating he may be considering a reduction in middle management. “I don’t think you want a management structure that’s just managers managing managers managing managers managing managers managing people doing the work,” Command Line quoted Zuckerberg as saying in an internal Q&A. Round.

Following the November layoffs, Zuckerberg said he was to blame for Meta’s missteps and that his over-optimism about growth led to overstaffing.

Earlier, Zuckerberg issued a statement saying the company expects to end 2023 as “roughly the same size or even a slightly smaller organization.”

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