Meta Platforms, Inc, the parent company of Facebook, WhatsApp, and Instagram is planning to lay off more people in March after a recent job cut that affected nearly 13 per cent of its workforce.
According to a Financial Times report, the company is going through performance reviews of the employees now.
In November, as many as 11,000 people were laid off by Meta in what came to be the biggest layoff in the company's history.
According to the Financial Times report, the uncertainty surrounding job losses is affecting the morale of the employees. Meta has been delaying finalising the budgets of various teams as it is reportedly gearing up for a fresh round of job cuts.
The annual budget preparations have been delayed as managers are waiting to know how many of their team members would be asked to go, even as founder-CEO Mark Zuckerberg had recently assured that 2023 will be a "year of efficiency".
Two Meta employees told the Financial Times that "there had been a lack of clarity about budgets or future headcount in recent weeks. As a result, staff have complained that ‘zero work’ is getting done as managers have been unable to plan their coming workloads, the employees said.”
It is to be noted that while the November job cuts may have affected a large number of Meta employees, Wall Street cheered for the move with the company's shares having gone up soon after the news.
