On Saturday, the Financial Times reported that uncertainty triggered by a decision to perform a new round of job cuts has led Facebook parent Meta Platforms to hold off on finalizing the budgets of multiple divisions, as it tries to decide how many jobs will be cut and from where.

The Financial Times reported that over the past few weeks, employees have complained about the lack of clarity regarding headcounts and budgets, according to two employees who are familiar with the situation.

Meta did not comment on media requests regarding the report.

The parent company to Instagram and WhatsApp had cut roughly 13% of its workforce in November when it let go 11,000 employees as a slowing economy began to erode online advertising revenues. It joined other big tech companies like Amazon and Microsoft which have been forced to lay off thousands of employees, as the economy cooled and consumer activity waned.

At the beginning of February, Meta had reported that 2023 expenses were expected to fall between $89 billion and $95 billion. CEO Mark Zuckerberg referred to 2023 as a, “year of efficiency,” following the 4.2% fall in advertising revenue the company saw is the fourth quarter of 2022.

Still, investors were pleased with the company’s Q4 performance as its top line managed to beat expectations, with revenues of $32.2B while analysts expected $31.7B in revenues. Key metrics – like daily active users and free cash flow, were very good in spite of the moderating, but still expectation-beating, topline growth.

Shares soared over 20% after the company released its earnings sheet and rumors began to spread about possible additional layoffs.