According to reports, Meta is planning another round of layoffs

According to a Financial Times report, Meta is preparing a new round of job cuts. The Financial Times was told by two people who are familiar with the situation that the company’s budgets and future headcount have been unclear. It is unknown how individuals might be affected by the job cuts, which are anticipated to occur around March.

According to the report, managers have not been able to plan ahead because of the lack of clarity, which has caused staff members to observe that not much work is being completed. Some budgets that were supposed to be done by the end of the year haven’t been done yet, and some decisions that used to take days to approve are now taking a month in some cases.

TechCrunch did not get a response from Meta when it asked for a comment.

Earlier this month, during an earnings call with analysts, Meta CEO Mark Zuckerberg stated that the company intends to continue cost containment. He stated that Meta would take a more proactive approach to eliminating low-priority and low-performance roles and promised a “year of efficiency.” Zuckerberg mentioned that Meta would streamline its structure and “remove some layers in middle management to make decisions faster” as part of its organizational changes.

Meta laid off 11,000 workers in November, or roughly 13% of its global workforce. The company’s recruiting and business teams were most severely impacted by the cuts, which were the largest in Meta’s history. With only a “small number of exceptions,” the company said at the time that its hiring freeze would continue into the beginning of 2023.

While Meta isn’t the only business to have announced layoffs in the past year, it is one of the few to elaborate on its prior actions. For instance, Amazon initially stated that it would lay off 10,000 workers, but that number was later increased to 18,000. Additionally, Coinbase laid off 950 employees just recently, after firing 1,100 in June.

Marne Levine, Meta’s chief business officer, is leaving the company after 13 years, the company announced today. Levine held the positions of vice president of global public policy at Facebook and first chief operating officer at Instagram during her time at Meta. According to Meta, Nicola Mendelsohn and Justin Osofsky will report to COO Javier Olivan in expanded roles as senior sales and partnership leaders going forward.