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Seeking to stem losses, Facebook to continue staff layoffs

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Seeking to stem losses, Facebook to continue staff layoffs

Robert Besser
16 Feb 2023, 14:56 GMT+10

Facebook is planning a new round of layoffs and has delayed finalizing its various budgets
The Financial Times added that in recent weeks there had been a lack of clarity surrounding budgets and future staffing
With CEO Mark Zuckerberg calling 2023 the “Year of Efficiency,” Facebook announced that it expects its expenses for the year to be between $89 to $95 billion

LONDON, England: Facebook is planning a new round of layoffs and has delayed finalizing its various budgets, according to the Financial Times.

The Financial Times added that in recent weeks there had been a lack of clarity surrounding budgets and future staffing.

With CEO Mark Zuckerberg calling 2023 the “Year of Efficiency,” Facebook announced that it expects its expenses for the year to be between $89 to $95 billion.

In November, Meta, which owns Facebook and WhatsApp, laid off more than 11,000 employees, or 13 percent of its workforce, due to the economic downturn, following layoffs by rival tech companies Amazon.com and Microsoft.