In a significant move on Wednesday, Meta, formerly known as Facebook, initiated its latest round of layoffs, affecting an estimated 6,000 individuals. These measures are being undertaken as part of Meta’s overarching strategy dubbed the “Year of Efficiency,” aimed at streamlining operations, reducing costs, and
Meta, the company formerly known as Facebook, is facing significant challenges in the European Union (EU) due to privacy breaches. The European Data Protection Board (EDPB) has issued a formal suspension order, requiring Meta to cease exporting EU user data to the United States for
Meta, the parent company of Facebook, recently released its Q1 2023 earnings report, which showed better-than-expected revenue for the quarter. However, buried in the report were some concerns about the looming regulatory risks that the company is facing in Europe. The Irish Data Protection Commission
Meta Platforms Inc. is gearing up for a new round of job cuts as part of its ongoing restructuring efforts aimed at achieving greater efficiency, according to an internal memo seen by Bloomberg News. The Facebook parent company has informed managers to expect job cut
Meta, formerly known as Facebook, has announced the launch of Meta Verified, a subscription service that allows users to add the coveted blue check mark to their Instagram and Facebook accounts. Meta Verified was first introduced in Australia and New Zealand last month and is
The recent developments surrounding Elon Musk’s takeover of Twitter have garnered a lot of attention on the social media platform. It seems that other tech giants, particularly meta, have been taking notice as well. Just last week, the company announced that it was testing a
Meta, the parent company of Facebook, has launched a new subscription service called Meta Verified. This service will allow users to add the coveted blue check mark to their Instagram and Facebook accounts by verifying their identity for up to $15 per month. The company’s
A decline in the online advertising industry and competition from rivals like TikTok impacted Facebook parent firm Meta’s fourth-quarter profit and sales on Wednesday. However, the shares of the corporation rose during extended trading as its sales above Wall Street’s low forecasts and the Menlo
The parent company of Facebook and Instagram, Meta, was fined $414 million by EU authorities on Wednesday for breaking privacy laws, potentially dealing a fatal blow to the social media corporation’s lucrative digital advertising strategy. The General Data Protection Regulation, or GDPR, was broken by
The shares of the once-hot companies owned by the nation’s IT titans fell this year, costing them a combined total of more than $430 billion. Elon Musk, the CEO of Tesla and Twitter, had his net worth plummet by a startling $132 billion, displacing him
In order to settle a class-action lawsuit accusing the social media behemoth of granting access to user data to outside companies, such as Cambridge Analytica, Facebook owner Meta Platforms has agreed to pay $725 million. The long-running case brought on by allegations in 2018 that
Tuesday saw a 1% increase in Meta shares following an apparently false report that CEO Mark Zuckerberg intended to retire in 2023. The report, which Meta swiftly refuted, came as Zuckerberg was already under increasing pressure from irate shareholders who were complaining about his extravagant
Altimeter Capital Management, a stakeholder in Facebook-parent Meta Platforms, stated in an open letter to CEO Mark Zuckerberg on Monday that the company needed to simplify by slashing employment and capital spending. According to the technology-focused hedge fund with a 0.1% investment, the firm has
According to current estimations, Mark Zuckerberg’s net worth has dropped by more than half this year, knocking him out of the top rankings of the world’s richest as his firm Meta suffers with an identity crisis. Zuckerberg, 38, has lost a massive $71 billion in
For years, Meta has faced criticism and scrutiny from Congress. CEO Mark Zuckerberg has repeatedly been sent to Congressional hearings to discuss privacy concerns that impact thousands of Americans. Congress is focused on regulating Meta quickly and they hope to achieve this with a dozen
How the average investor take advantage of this massive opportunity One of the big buzzwords being thrown around these days is ‘Metaverse’. You hear it on the news, you read about it on social media… you may have even heard about it from Mark Zuckerberg.
Recently, Mark Zuckerberg stirred the waters by renaming Facebook “Meta,” and announcing that it will focus on building Metaverse solutions. Facebook changed the name to Meta However, long before 1992, the science fiction novel Snow Crash first used the term “Meta,” referring to humans as
In 2019, Facebook first proposed a new cryptocurrency network on its social media platform that would change the way the world banks. In response, they were hit with major backlash from regulators because of concerns over instability of cryptocurrency like bitcoin. Over the last month,
Since 2019, New York Attorney General Leticia James has been investigating Facebook under claims the company unlawfully used its marketing power to monopolize the social media industry. According to her statement, she was looking into whether Facebook “endangered consumer data, reduced the quality of consumer’s
While Facebook and Google have become essential in easing our daily lives, the monopoly and influence that they hold can be dangerous. For example, the way in which these companies harm local communities is massive. From spreading disinformation to controlling money for advertisements, their affect
