Amid growing concerns over the spread of misinformation and the misuse of artificial intelligence, Meta, the parent company of Facebook, announces plans to establish a dedicated team to address these issues ahead of the upcoming European Parliament electi
Facebook's Parent Company Meta cuts 11,000 Jobs
Facebook parent Meta announced on Wednesday to slash around 11,000 jobs as a part of mass layoffs to cut expenses and transform its business model.
As the tech industry is slashing jobs, Meta too announced layoffs. "We are also taking a number of additional steps to become a leaner and more efficient company by cutting discretionary spending and extending our hiring freeze through Q1," said Meta CEO Mark Zuckerberg in a statement on Wednesday.
Zuckerberg termed the layoffs as some of the most difficult changes the company has made in Meta's history and added that everyone in the company will soon get an email "letting you know what this layoff means for you."
Notably, the layoffs are expected to affect many thousands of employees and an announcement is planned to come as soon as Wednesday, according to people familiar with the matter.
Meta reported having more than 87,000 employees at the end of September.
The planned layoffs would be the first broad head-count reductions to occur in the company's 18-year history.
Write to us at firstname.lastname@example.org
Информирайте се на Български - Novinite.bg
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Economic sentiment in both the European Union and Bulgaria experienced some turbulence in February, reflecting ongoing uncertainties surrounding economic recovery and global challenges
"Bulgargaz" suggests an 18% decrease in natural gas prices starting next month
In a testament to its enduring resilience, Bitcoin, the world's leading cryptocurrency, continued its upward trajectory on Wednesday, inching closer to the significant milestone of $60,000
The Ministry of Tourism in Bulgaria has unveiled plans for significant reforms in the tender procedures for beach rentals across the country, aiming to enhance transparency and fairness in the process
The travels of Bulgarian citizens abroad in January 2024 are higher compared to the same period last year
Speaking at a briefing following a meeting with Croatian Central Bank Governor Boris Vujcic, Bulgarian National Bank (BNB) Governor Dimitar Radev highlighted the significant costs associated with delaying entry into the eurozone