​Meta (Facebook) is preparing to announce a new round of layoffs after announcing a workforce reduction of 11,000, or 13% of its workforce, at the end of 2022.

Now the Financial Times reports that Meta Platforms has delayed finalizing the budgets of its various divisions as it prepares to announce a new “round” of layoffs.

In August 2021, the target reached a market cap of $450 billion, well short of the $1 trillion record. However, in early November 2022, the target reached a low of $240 billion.

Facebook continues to hire, increasing its workforce by 27,000 in 2020 and 2021 and by 15,000 in the first nine months of 2022. First, at the end of 2022, the company announced mass layoffs, the first in its history.

Mark Zuckerberg said 2023 would be a “year of efficiency” as the company focused on cutting costs. Shareholders and some employees are questioning Mark Zuckerberg’s decision to invest so much in the metaverse ($10 billion last year), a direction that is uncertain whether it is the right one or whether it will bring a profit.

In recent weeks, the international press has written about the fact that some Meta employees are demoralized and disappointed with what is happening in the company. Some projects will be canceled and “middle management” jobs will be eliminated.

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