Meta (described as extremist in the Russian Federation and banned) is delaying the budgeting of various departments and is preparing for a new round of staff cuts to reduce costs. The newspaper reports Financial Times (FT) referring to several employees of the American company.
According to sources, the number of employees in departments for this year has not yet been determined, which is why the budget cannot be calculated. Typically, the next year’s budget was drawn up and approved at the end of the previous year. Now employees are complaining that “the work is not getting done properly because managers cannot calculate the amount of workload.” According to the FT interlocutors, “it used to take a few days to approve some projects and decisions, but now it takes months” – even in such priority areas as the metaverse and advertising.
In November, Meta already announced it was laying off 11,000 employees to cut costs, the largest layoff in the company’s history. At the same time, the company’s management called 2023 the year of efficiency.
However, as the FT interlocutors note, “the year of efficiency begins with the fact that employees are paid for doing nothing.” They also argue that such uncertainty deprives employees of motivation and confidence. According to them, a new round of cuts could begin in March, but its extent is unknown. Now managers, FT interlocutors say, are checking employee performance data, and also selecting low-performing or not very promising projects that can be closed. Meta declined to comment on the FT request.
Read about mass layoffs in American high-tech companies in the material “Kommersant” “Technologies have cut down”.
