Meta delays setting team budgets as Facebook parent plans fresh round of layoffs, Financial Times reports

Facebook parent Meta has delayed finalizing the budgets of multiple teams as it prepares a fresh round of job cuts, the Financial Times reported. The company announced 11,000 cuts in November

In recent weeks there had been a lack of clarity surrounding budgets and future head count, the FT reported, citing two Meta employees familiar with the situation.

The logo of Meta Platforms' business group is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves HermanEarlier this month, Meta that it expects its 2023 expenses at between $89 billion and $95 billion, with CEO Mark Zuckerberg calling the period a "Year of Efficiency."

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