Just a couple of days back Twitter underwent massive layoffs, firing around 50 per cent of its employees, now another social media company is reportedly going to travel the same path. As per a report by the Wall Street Journal (WSJ), Facebook's parent company Meta is planning to begin large-scale layoffs this week.

Reuters reports that the layoffs will affect thousands of employees and the announcement will likely come as early as Wednesday.

Watch |&nbsp;WION Business News | Facebook-parent Meta's India head Ajit Mohan quits

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The discouraging news comes as Meta battles a sluggish global economy, TikTok rivalry, Apple privacy changes, worries about big spending on the metaverse, and the looming danger of regulation.

Meta had reduced its ambitions to hire engineers by at least 30 per cent in June, and Mark Zuckerberg had advised staff to prepare for a slowdown in the economy.

Also read |&nbsp;<a href="https://www.wionews.com/world/elon-musks-twitter-calls-back-some-of-the-fired-employees-says-they-got-laid-off-by-mistake-531720" hreflang="en">Elon Musk's Twitter calls back some of the fired employees, says they got laid off 'by mistake'</a>

A few months later, in October, Meta had predicted a dismal Christmas quarter and much higher costs in 2023, which as per its estimates will reduce its stock's market value by around $67 billion and add to the more than half a trillion dollars in value already lost this year.&nbsp;

According to Zuckerberg, it will take around ten years for the investments in the metaverse to pay off. To save costs in the interim, he has been forced to halt employment, cancel projects, and rearrange teams.

Also read |&nbsp;<a href="https://www.wionews.com/world/explained-will-twitter-layoffs-breach-american-law-heres-everything-you-need-to-know-531676">Explained: Will Twitter layoffs breach American law? Here's everything you need to know</a>

"In 2023, we're going to focus our investments on a small number of high priority growth areas. So that means some teams will grow meaningfully, but most other teams will stay flat or shrink over the next year. In aggregate, we expect to end 2023 as either roughly the same size, or even a slightly smaller organization than we are today" he said last month.

Increased interest rates, rising inflation, and the European energy crisis have in recent times not only forced Twitter and Meta, to cut staff, rather several technological businesses, including Microsoft Corp., and Snap Inc., have also reduced employment in recent months.

Just a couple of days back Twitter underwent massive layoffs, firing around 50 per cent of its employees, now another social media company is reportedly going to travel the same path.

Just a couple of days back Twitter underwent massive layoffs, firing around 50 per cent of its employees, now another social media company is reportedly going to travel the same path. As per a report by the Wall Street Journal (WSJ), Facebook's parent company Meta is planning to begin large-scale layoffs this week. Reuters reports that the layoffs will affect thousands of employees and the announcement will likely come as early as Wednesday. Watch | WION Business News | Facebook-parent Meta's India head Ajit Mohan quits The discouraging news comes as Meta battles a sluggish global economy, TikTok rivalry, Apple privacy changes, worries about big spending on the metaverse, and the looming danger of regulation. Meta had reduced its ambitions to hire engineers by at least 30 per cent in June, and Mark Zuckerberg had advised staff to prepare for a slowdown in the economy. Also read | Elon Musk's Twitter calls back some of the fired employees, says they got laid off 'by mistake' A few months later, in October, Meta had predicted a dismal Christmas quarter and much higher costs in 2023, which as per its estimates will reduce its stock's market value by around $67 billion and add to the more than half a trillion dollars in value already lost this year. According to Zuckerberg, it will take around ten years for the investments in the metaverse to pay off. To save costs in the interim, he has been forced to halt employment, cancel projects, and rearrange teams. Also read | Explained: Will Twitter layoffs breach American law? Here's everything you need to know "In 2023, we're going to focus our investments on a small number of high priority growth areas. So that means some teams will grow meaningfully, but most other teams will stay flat or shrink over the next year. In aggregate, we expect to end 2023 as either roughly the same size, or even a slightly smaller organization than we are today" he said last month. Increased interest rates, rising inflation, and the European energy crisis have in recent times not only forced Twitter and Meta, to cut staff, rather several technological businesses, including Microsoft Corp., and Snap Inc., have also reduced employment in recent months.

After Twitter, now Facebook parent company Meta will undergo massive layoffs: Report

Popular social media platforms such as Facebook and Twitter recently disabled and banned several accounts of&nbsp;<a href="https://www.wionews.com/topics/donald-trump">Donald Trump</a> supporters as they were accused of inciting violence and spreading misinformation.

However, while Trump decided to knock the doors of the friendly and local news channels to broadcast his thoughts, his supporters have also found slternate social media platforms to yell out their thoughts to the world.

Also read|&nbsp;<a href="https://www.wionews.com/world/trump-offered-north-koreas-kim-jong-un-ride-back-home-on-air-force-one-report-365311" hreflang="en">Trump offered North Korea's Kim Jong Un ride back home on Air Force One: Report</a>

Platforms such as Gab, MeWe, Telegram, Discord and a few more have now replaced popular social media platforms such as Twitter, Facebook, Messenger and such.

"The most extreme Trump supporters were already on alternative platforms," Nick Backovic, a researcher at Logically.AI, a company specialising in digital disinformation. "The fact that Facebook and Twitter took so long to (ban them) allowed influencers to rebuild conversation and groups almost seamlessly."

Also read|&nbsp;<a href="https://www.wionews.com/world/donald-trump-to-appear-for-first-post-white-house-speech-in-cpac-365129" hreflang="en">Donald Trump to appear for first post-White House speech in CPAC</a>

After the US Capitol riots, carried out by Trump's supporters on January 06, platforms such as Facebook and Twitter took down pages and accounts of several armed groups an movements such as Oath Keepers.

Facebook shut down nearly 900 accounts and Twitter blocked 70,000 accounts related t conspiraycy group QAnon and such.

"Deplatforming works," said Jim Steyer, president of the organization Common Sense Media. "Now that you look at Trump not being on Twitter, he lost his big speaker, his amplification microphone to the world."

Popular social media platforms such as Facebook and Twitter recently disabled and banned several accounts of Donald Trump supporters as they were accused of inciting violence and spreading misinformation.

Popular social media platforms such as Facebook and Twitter recently disabled and banned several accounts of Donald Trump supporters as they were accused of inciting violence and spreading misinformation. However, while Trump decided to knock the doors of the friendly and local news channels to broadcast his thoughts, his supporters have also found slternate social media platforms to yell out their thoughts to the world. Also read| Trump offered North Korea's Kim Jong Un ride back home on Air Force One: Report Platforms such as Gab, MeWe, Telegram, Discord and a few more have now replaced popular social media platforms such as Twitter, Facebook, Messenger and such. "The most extreme Trump supporters were already on alternative platforms," Nick Backovic, a researcher at Logically.AI, a company specialising in digital disinformation. "The fact that Facebook and Twitter took so long to (ban them) allowed influencers to rebuild conversation and groups almost seamlessly." Also read| Donald Trump to appear for first post-White House speech in CPAC After the US Capitol riots, carried out by Trump's supporters on January 06, platforms such as Facebook and Twitter took down pages and accounts of several armed groups an movements such as Oath Keepers. Facebook shut down nearly 900 accounts and Twitter blocked 70,000 accounts related t conspiraycy group QAnon and such. "Deplatforming works," said Jim Steyer, president of the organization Common Sense Media. "Now that you look at Trump not being on Twitter, he lost his big speaker, his amplification microphone to the world."

Trump supporters find solace in alternate apps after Twitter and Facebook ban

Facebook is now developing a tool to read people’s minds. No, this isn’t an extrapolation. The social media giant, which is currently under fire from regulators around the world is developing a neural sensor to detect people’s thoughts, and to convert them into action.

On Tuesday, the company also announced plans to come up with a tool which would summarise news articles for readers without reading any.

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The announcements were in Facebook’s end-of-year company meeting. Facebook has been mired with controversies about user data, growing employee discontent, and multiple lawsuits in the world.

BuzzFeed news reported that it was able to obtain the audio clips of the company meetings, where such plans were discussed.

Also read:&nbsp;<a href="http://13.235.153.162/world/facebook-closes-fake-accounts-linked-to-french-military-and-russia-350035" hreflang="en">Facebook closes fake accounts linked to French military and Russia</a> 
 
The meeting was laden with pre-recorded messages by key figures at Facebook, many of whom referred to 2020 as a trying year given the pandemic.

Facebook and other social media giants have been put under the watchful eye of governments for doing little to counter fake news about the virus, and in the recently concluded presidential elections in the United States. 
 
The company, during the address claimed to have added 20,000 people to its workforce. Owing to the pandemic, the company saw record usage this year. 
 
During the meeting, Facebook focused on the company’s interest and commitment to artificial intelligence, with an official claiming that new systems would allow AI to run 30 times faster and to even train itself!

Also read:&nbsp;<a href="http://13.235.153.162/technology/facebook-launches-collab-as-tiktoks-competition-349987" hreflang="en">Facebook launches 'Collab' as TikTok's competition</a>

Schroepfer added that AI is the key too in battling hate speech, misinformation, and content related issues. According to him, Facebook is now able to detect 95 per cent of all hate speech on the platform.

Currently, the company is caught up in antitrust lawsuit in the United States, while Australia is forcing Facebook to pay journalists for news content. In addition, the European Union is also clamping down on social media giants.

Facebook is now developing a tool to read people’s minds. No, this isn’t an extrapolation. The social media giant, which is currently under fire from regulators around the world is developing a neural sensor to detect people’s thoughts, and to convert them into action.

Facebook is now developing a tool to read people’s minds. No, this isn’t an extrapolation. The social media giant, which is currently under fire from regulators around the world is developing a neural sensor to detect people’s thoughts, and to convert them into action. On Tuesday, the company also announced plans to come up with a tool which would summarise news articles for readers without reading any. The announcements were in Facebook’s end-of-year company meeting. Facebook has been mired with controversies about user data, growing employee discontent, and multiple lawsuits in the world. BuzzFeed news reported that it was able to obtain the audio clips of the company meetings, where such plans were discussed. Also read: Facebook closes fake accounts linked to French military and Russia The meeting was laden with pre-recorded messages by key figures at Facebook, many of whom referred to 2020 as a trying year given the pandemic. Facebook and other social media giants have been put under the watchful eye of governments for doing little to counter fake news about the virus, and in the recently concluded presidential elections in the United States. The company, during the address claimed to have added 20,000 people to its workforce. Owing to the pandemic, the company saw record usage this year. During the meeting, Facebook focused on the company’s interest and commitment to artificial intelligence, with an official claiming that new systems would allow AI to run 30 times faster and to even train itself! Also read: Facebook launches 'Collab' as TikTok's competition Schroepfer added that AI is the key too in battling hate speech, misinformation, and content related issues. According to him, Facebook is now able to detect 95 per cent of all hate speech on the platform. Currently, the company is caught up in antitrust lawsuit in the United States, while Australia is forcing Facebook to pay journalists for news content. In addition, the European Union is also clamping down on social media giants.

Soon, Facebook will be able to read your mind

As election misinformation continued to rage online, Facebook Inc said on Wednesday its post-election ban on political ads would likely last another month, raising concerns from campaigns and groups eager to reach voters for key Georgia Senate races in January.

Facebook, which had announced the ban as part of measures to combat misinformation and other abuses on its site, had previously said the ban would last at least a week but could be extended. Alphabet Inc's Google also appeared to be sticking with its post-election political ad ban.

"While multiple sources have projected a presidential winner, we still believe it's important to help prevent confusion or abuse on our platform," Facebook told advertisers in an email seen by Reuters, which told advertisers to expect the pause to last another month though there "may be an opportunity to resume these ads sooner."

Also read:&nbsp;<a href="http://13.235.153.162/world/a-sikh-facebook-group-is-not-impressed-with-kamala-harris-heres-why-342137" hreflang="en">A Sikh Facebook group is not impressed with Kamala Harris. Here's why</a>

Baseless claims about the election reverberated around social media this week as President Donald Trump continued to challenge the validity of the outcome, even as state officials reported no significant irregularities and legal experts cautioned he had little chance to overturn Democratic President-elect Joe Biden's victory.

Google declined to answer questions about the length of its ad pause. A Google spokeswoman previously said the company would lift the ban based on factors such as the time needed for votes to be counted and whether there was civil unrest.

The bans mean that the platforms are not currently accepting election ads ahead of the two U.S. Senate runoff races in Georgia that could decide control of that chamber.

"It is driving us absolutely bonkers," said Mark Jablonowski, managing partner of DSPolitical, a digital firm that works with Democratic causes.

"They're essentially holding the rest of the political process hostage," said Eric Wilson, a Republican digital strategist, who said he thought the companies' concerns about ads on the election outcome did not require a blanket ban. "This is something that deserves a scalpel and they're using a rusty ax," he added.

Social media companies declined to say when they would lift other "break-glass" measures introduced to curb election misinformation and calls for violence in unpaid posts, like Facebook's limits on the distribution of live videos and demotions on content that its systems predict may be misinformation.

Facebook spokesman Andy Stone said those emergency measures would not be permanent, but added that rollback was "not imminent."

Also read: F<a href="http://13.235.153.162/technology/facebook-takes-down-group-stop-the-steal-alleging-voter-fraud-by-democrats-342138" hreflang="en">acebook takes down group 'Stop The Steal' alleging voter fraud by Democrats</a>

"The reality is right now that we are not through the danger zone," said Vanita Gupta, chief executive of the Leadership Conference on Civil and Human Rights.

Democratic strategists, including members of the Biden campaign who tweeted criticism of Facebook, this week said social media companies still were not effectively combating the spread of viral lies.

In one Facebook group created on Sunday, which rapidly grew to more than 350,000 members by Tuesday, members calling for a nationwide recount swapped unfounded accusations about alleged election fraud and shifting state vote counts every few seconds.

Nina Jankowitz, a disinformation fellow at the Wilson Center, said the ad pauses were needed though not sufficient for tackling false information.

"Clearly President Trump does not think the election is over so I don't think the platforms should treat it as if it does," she said.

As election misinformation continued to rage online, Facebook Inc said on Wednesday its post-election ban on political ads would likely last another month, raising concerns from campaigns and groups eager to reach voters for key Georgia Senate races in January.

As election misinformation continued to rage online, Facebook Inc said on Wednesday its post-election ban on political ads would likely last another month, raising concerns from campaigns and groups eager to reach voters for key Georgia Senate races in January. Facebook, which had announced the ban as part of measures to combat misinformation and other abuses on its site, had previously said the ban would last at least a week but could be extended. Alphabet Inc's Google also appeared to be sticking with its post-election political ad ban. "While multiple sources have projected a presidential winner, we still believe it's important to help prevent confusion or abuse on our platform," Facebook told advertisers in an email seen by Reuters, which told advertisers to expect the pause to last another month though there "may be an opportunity to resume these ads sooner." Also read: A Sikh Facebook group is not impressed with Kamala Harris. Here's why Baseless claims about the election reverberated around social media this week as President Donald Trump continued to challenge the validity of the outcome, even as state officials reported no significant irregularities and legal experts cautioned he had little chance to overturn Democratic President-elect Joe Biden's victory. Google declined to answer questions about the length of its ad pause. A Google spokeswoman previously said the company would lift the ban based on factors such as the time needed for votes to be counted and whether there was civil unrest. The bans mean that the platforms are not currently accepting election ads ahead of the two U.S. Senate runoff races in Georgia that could decide control of that chamber. "It is driving us absolutely bonkers," said Mark Jablonowski, managing partner of DSPolitical, a digital firm that works with Democratic causes. "They're essentially holding the rest of the political process hostage," said Eric Wilson, a Republican digital strategist, who said he thought the companies' concerns about ads on the election outcome did not require a blanket ban. "This is something that deserves a scalpel and they're using a rusty ax," he added. Social media companies declined to say when they would lift other "break-glass" measures introduced to curb election misinformation and calls for violence in unpaid posts, like Facebook's limits on the distribution of live videos and demotions on content that its systems predict may be misinformation. Facebook spokesman Andy Stone said those emergency measures would not be permanent, but added that rollback was "not imminent." Also read: Facebook takes down group 'Stop The Steal' alleging voter fraud by Democrats "The reality is right now that we are not through the danger zone," said Vanita Gupta, chief executive of the Leadership Conference on Civil and Human Rights. Democratic strategists, including members of the Biden campaign who tweeted criticism of Facebook, this week said social media companies still were not effectively combating the spread of viral lies. In one Facebook group created on Sunday, which rapidly grew to more than 350,000 members by Tuesday, members calling for a nationwide recount swapped unfounded accusations about alleged election fraud and shifting state vote counts every few seconds. Nina Jankowitz, a disinformation fellow at the Wilson Center, said the ad pauses were needed though not sufficient for tackling false information. "Clearly President Trump does not think the election is over so I don't think the platforms should treat it as if it does," she said.

Facebook extends ban on US political ads for another month

Thailand has initiated legal actions against Facebook & twitter for ignoring requests to take down content. Thailand's ministry of digital economy & society has filed legal complaints with cybercrime police after the two social media companies missed deadlines to comply fully with court-issued orders.

Thailand takes legal actions against Facebook & Twitter over content