Meta — the parent company of Facebook, Instagram and other apps — is planning another round of layoffs, according to a report from the Financial Times. The tech giant has also delayed setting team budgets.Future headcount at the company is also being decided, with the layoffs expected to come in March, the Times reported. However, it’s unknown how wide-ranging the layoffs could be or how many workers might be affected.The uncertainty has reportedly tanked productivity and dramatically slowed the decision-making process.FILE – Facebook’s Meta logo sign is seen at the company headquarters in Menlo Park, Calif. on Oct. 28, 2021. (Tony Avelar/AP)“The year of efficiency is kicking off with a bunch of people getting paid to do nothing,” an anonymous employee told the FT.According to a Bloomberg report published last week, Meta began a “flattening” after asking many managers to become individual contributors or leave the company.Earlier this month, Meta CEO Mark Zuckerberg hinted that cost-cutting measures were on the horizon.Breaking NewsAs it happensGet updates on the coronavirus pandemic and other news as it happens with our free breaking news email alerts.“We’re working on flattening our org structure and removing some layers of middle management to make decisions faster,” Zuckerberg
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More layoffs coming at Facebook parent company Meta – New York Daily News
