February 13, 2023 01:32 pm | Updated 07:55 pm ISTFacebook parent Meta has hit pause on finalising several team budgets as it prepares for a new round of layoffs after slashing over 11,000 jobs in November 2022, according to the Financial Times on Saturday. Like other Big Tech companies such as Amazon, Microsoft, and Google that also fired staff, the Instagram and WhatsApp owner cut its workforce by 13% and stressed on removing unnecessary layers of management. Financial Times cited two anonymous Meta employees who admitted there was confusion in setting team budgets due to uncertainty regarding the number of employees who would remain after the next round of firings. As it moves forward with a slimmed down team, Meta aims to focus on AI and the metaverse. (For top technology news of the day, subscribe to our tech newsletter, Today’s Cache)During an earnings call this month, Meta head Mark Zuckerberg said that 2022 was a challenging year, but that 2023 would be the company’s “year of efficiency.”“Next, we’re working on flattening our org structure and removing some layers of middle management to make decisions faster, as well as deploying AI tools to help our engineers be more productive,” he was quoted as saying.

Source: The Hindu February 14, 2023 00:21 UTC