Meta delays setting teams’ budgets with more job cuts planned: Report

Meta Platforms Inc has delayed setting budgets for some of its teams as it prepares for more jobs cuts under Chief Executive Officer Mark Zuckerberg’s drive to reduce costs

Meta job cuts, Facebook job cuts, Meta job cuts, Facebook job loss, Mark Zuckerberg

Meta will likely undertake more job cuts soon. (Image credit: Reuters)

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Meta Platforms Inc has delayed setting budgets for some of its teams as it prepares for more jobs cuts under Chief Executive Officer Mark Zuckerberg’s drive to reduce costs, according to the Financial Times.

Staff have complained that “zero work” is getting done amid a lack of clarity about budgets or future headcount in recent weeks, the newspaper reported Saturday, citing two unidentified employees. Projects and decisions that usually take days to sign off are sometimes now taking about a month, the people said. Meta declined to comment to the FT.

Meta is just one of several tech firms laying off workers after headcount ballooned during the pandemic. Google parent Alphabet Inc. and Amazon.com Inc. have both begun job cuts in recent weeks. Meta is currently asking managers to move into individual contributor roles or leave the company, in a process referred to as “flattening.”

Meta, which owns Facebook and Instagram, fired 13% of its workforce in November. The current round of job cuts will be more gradual, enacted on an individual basis, Bloomberg reported.