Facebook parent Meta plans more layoffs -report

STORY: Facebook parent Meta Platforms – which has already cut more than 11,000 jobs – is planning another round of layoffs.

That’s according to the Financial Times on Saturday, which reported that the planned cuts have resulted in a lack of clarity at the company about budgets and future headcounts, according to employees.

The paper quoted staffers saying that “zero work” was getting done, as managers have been unable to plan for the weeks ahead.

On Meta’s quarterly earnings call earlier this month, CEO Mark Zuckerberg called 2023 the “year of efficiency.”

But according to the Financial Times, one Meta employee said (quote), “Honestly, it’s still a mess. The year of efficiency is kicking off with a bunch of people getting paid to do nothing.”

Meta, which also owns WhatsApp, cut more than 11,000 jobs or 13% of its workforce in November. That followed tech companies Amazon and Microsoft, which also announced thousands of layoffs due to the economic downturn.

Meta did not immediately respond to a Reuters request for comment outside of normal business hours.