Meta Platforms Inc, the parent company of Facebook, has postponed the finalization of multiple team budgets as it readies for a new round of job cuts, according to the Financial Times.
The FT reported, citing two Meta employees, that there has been recent uncertainty regarding budgets and future staffing levels.
Reuters was unable to get a comment from Meta outside of normal business hours.
CEO Mark Zuckerberg recently labeled 2023 as a "Year of Efficiency" and announced that the company anticipates its expenses to be between $89 billion and $95 billion this year.
Meta, which owns WhatsApp, previously laid off more than 11,000 employees, or 13% of its workforce, in November, following the footsteps of tech giants such as Amazon and Microsoft who also announced significant layoffs due to the economic situation.