Meta delays setting teams' budgets as it prepares for more jobs cuts

Meta, which also owns Instagram, fired 13% of its workforce in November.  Photographer: Leah Farrell / RollingNews.ie

Facebook owner Meta has delayed setting budgets for some of its teams as it prepares for more jobs cuts under CEO Mark Zuckerberg’s drive to reduce costs, according to the Financial Times.

Staff have complained that “zero work” is getting done amid a lack of clarity about budgets or future headcount in recent weeks, the newspaper reported Saturday, citing two unidentified employees. 

Projects and decisions that usually take days to sign off are sometimes now taking about a month, the people said. Meta declined to comment to the FT.

Meta is just one of several tech firms laying off workers after headcount ballooned during the pandemic. Google parent Alphabet and Amazon have both begun job cuts in recent weeks. 

Meta is currently asking managers to move into individual contributor roles or leave the company, in a process referred to as “flattening.” 

Meta, which also owns Instagram, fired 13% of its workforce in November. 

The current round of job cuts will be more gradual, enacted on an individual basis, Bloomberg reported.

Before it started cutting jobs, the company employed 83,500 people globally, with over 3,000 direct employees in Ireland, while a further 6,000 people support its services here.

- Bloomberg with additional reporting from the Irish Examiner