After laying off 10,000 people, Facebook's owner Meta allegedly intends to reduce bonus payments for some workers and conduct more frequent performance evaluations. Employees who obtain a rating of "meets most expectations" in their year-end 2023 assessments would receive a reduced portion of bonuses and restricted stock awards that are due in March 2024.

After job cuts, Facebook owner Meta is now preparing to reduce bonus for some employees : Report

<p>Mark Zuckerberg and other Meta Platforms Inc executives and directors have been accused in a new lawsuit over their inability to address sex trafficking and child sexual exploitation on their platforms. The Meta-owned social media apps, Facebook and Instagram have found themselves in troubled waters over this accusation.&nbsp;</p>

<p>The complaint was made public late Monday by several pension and investment funds that own Meta stock. They claimed that Meta’s leadership and board have failed to protect the company’s and shareholders’ interests by turning a blind eye to ‘systemic evidence’ of criminal activity.&nbsp;</p>

<p>Talking about the board’s failure to give an explanation on this, the complaint said, “The only logical inference is that the board has consciously decided to permit Meta's platforms to promote and facilitate sex/human trafficking.”&nbsp;</p>

<p>Also Read |&nbsp;<a href="https://www.wionews.com/trending/dream-job-alert-this-bengaluru-company-is-looking-for-a-chief-meme-officer-at-1200-a-month-check-details-574561"><strong>Dream job alert! This Bengaluru company is looking for a 'Chief Meme Officer' at $1200 a month, check details</strong></a></p>

<p>Meta has rejected the basis of the lawsuit, which was filed in Delaware Chancery Court. Meta released an official statement on Tuesday saying, “We prohibit human exploitation and child sexual exploitation in no uncertain terms. The claims in this lawsuit mischaracterise our efforts to combat this type of activity. Our goal is to prevent people who seek to exploit others from using our platform.”</p>

<p>In 2019, Zuckerberg, Meta’s co-founder and chief executive told Congress that child exploitation was one of the most serious threats that the company focuses on.</p>

<p><strong>Previous similar accusations on Meta</strong></p>

<p>The California-based multi-billionaire tech company Meta has long faced accusations that its platforms are a safe haven for sexual misconduct. In June 2021, the Texas Supreme Court allowed three people who became entangled with their abusers through Facebook to sue, saying Facebook was not a “lawless no man’s land” immune from liability for human trafficking.&nbsp;</p>

<p>Meta separately faces hundreds of lawsuits from families of teenagers and younger children who claimed to suffer mental health problems due to these social media platforms. Some school districts have also filed lawsuits over the problem.&nbsp;<br />
<br />
Monday’s lawsuit is also one of many such cases where shareholders sue officers and directors who allegedly breached their duties.&nbsp;</p>

<p>Those behind the suit include the Employees’ Retirement System of the State of Rhode Island, Kiwi Investment Management Wholesale Core Fund, and Teamsters Pension Fund, according to the filing.<br />
<br />
<em>(With inputs from agencies)</em></p>

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Mark Zuckerberg and other Meta Platforms Inc executives and directors have been accused in a new lawsuit over their inability to address sex trafficking and child sexual exploitation on their platforms.

Mark Zuckerberg and other Meta Platforms Inc executives and directors have been accused in a new lawsuit over their inability to address sex trafficking and child sexual exploitation on their platforms. The Meta-owned social media apps, Facebook and Instagram have found themselves in troubled waters over this accusation. The complaint was made public late Monday by several pension and investment funds that own Meta stock. They claimed that Meta’s leadership and board have failed to protect the company’s and shareholders’ interests by turning a blind eye to ‘systemic evidence’ of criminal activity. Talking about the board’s failure to give an explanation on this, the complaint said, “The only logical inference is that the board has consciously decided to permit Meta's platforms to promote and facilitate sex/human trafficking.” Also Read | Dream job alert! This Bengaluru company is looking for a 'Chief Meme Officer' at $1200 a month, check details Meta has rejected the basis of the lawsuit, which was filed in Delaware Chancery Court. Meta released an official statement on Tuesday saying, “We prohibit human exploitation and child sexual exploitation in no uncertain terms. The claims in this lawsuit mischaracterise our efforts to combat this type of activity. Our goal is to prevent people who seek to exploit others from using our platform.” In 2019, Zuckerberg, Meta’s co-founder and chief executive told Congress that child exploitation was one of the most serious threats that the company focuses on. Previous similar accusations on Meta The California-based multi-billionaire tech company Meta has long faced accusations that its platforms are a safe haven for sexual misconduct. In June 2021, the Texas Supreme Court allowed three people who became entangled with their abusers through Facebook to sue, saying Facebook was not a “lawless no man’s land” immune from liability for human trafficking. Meta separately faces hundreds of lawsuits from families of teenagers and younger children who claimed to suffer mental health problems due to these social media platforms. Some school districts have also filed lawsuits over the problem. Monday’s lawsuit is also one of many such cases where shareholders sue officers and directors who allegedly breached their duties. Those behind the suit include the Employees’ Retirement System of the State of Rhode Island, Kiwi Investment Management Wholesale Core Fund, and Teamsters Pension Fund, according to the filing. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Mark Zuckerberg, Meta sued over their failure to address sex trafficking, child exploitation

<p>US tech firm Meta on Tuesday announced plans to cut 10,000 jobs across Facebook, Instagram and WhatsApp in the second round of layoffs.</p>

<p>The latest retrenchment announcement comes on the back of axing 11,000 employees in November amidst the deep economic downturn the tech industry is facing. At that time, its headcount stood at 86,482 at 2022-end, up 20 per cent from a year ago.</p>

<p>On Tuesday, Meta chief executive Mark Zuckerberg in a memo to employees said that most of the cuts would happen in April and May, and will continue through the end of the year, according to Reuters news agency.</p>

<p>In addition to the 10,000 layoffs, the firm won’t fill the 5,000 vacancies, Zuckerberg said, adding that restructurings in the tech group would be announced in late April and cuts to business groups would come in May.</p>

<p>"For most of our history, we saw rapid revenue growth year after year and had the resources to invest in many new products. But last year was a humbling wake-up call," Zuckerberg wrote.</p>

<p>"I think we should prepare ourselves for the possibility that this new economic reality will continue for many years."</p>

<p>Listing the factors affecting Meta’s growth, Zuckerberg said that higher interest rates in the US, global geopolitical instability and increased regulation is contributing to the firm’s slowdown.</p>

<p>The tech billionaire said that there would be no new recruitment until the restructuring was complete, adding that he aimed to make the company "flatter" by "removing multiple layers of management".</p>

<p>Last month, the company said that a slump in online advertising and growing competition from other social media platforms have had impacts on Meta.</p>

<p>It has been focusing on the metaverse, an&nbsp;online virtual world&nbsp;that incorporates elements of augmented reality, virtual reality, avatars and other communication, and has spent millions of dollars on it.</p>

<p>(With inputs from agencies)</p>

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US tech firm Meta on Tuesday announced plans to cut 10,000 jobs across Facebook, Instagram and WhatsApp in the second round of layoffs. The latest retrenchment announcement comes on the back of axing 11,000 employees in November amidst the deep economic downturn the tech industry is facing.

US tech firm Meta on Tuesday announced plans to cut 10,000 jobs across Facebook, Instagram and WhatsApp in the second round of layoffs. The latest retrenchment announcement comes on the back of axing 11,000 employees in November amidst the deep economic downturn the tech industry is facing. At that time, its headcount stood at 86,482 at 2022-end, up 20 per cent from a year ago. On Tuesday, Meta chief executive Mark Zuckerberg in a memo to employees said that most of the cuts would happen in April and May, and will continue through the end of the year, according to Reuters news agency. In addition to the 10,000 layoffs, the firm won’t fill the 5,000 vacancies, Zuckerberg said, adding that restructurings in the tech group would be announced in late April and cuts to business groups would come in May. "For most of our history, we saw rapid revenue growth year after year and had the resources to invest in many new products. But last year was a humbling wake-up call," Zuckerberg wrote. "I think we should prepare ourselves for the possibility that this new economic reality will continue for many years." Listing the factors affecting Meta’s growth, Zuckerberg said that higher interest rates in the US, global geopolitical instability and increased regulation is contributing to the firm’s slowdown. The tech billionaire said that there would be no new recruitment until the restructuring was complete, adding that he aimed to make the company "flatter" by "removing multiple layers of management". Last month, the company said that a slump in online advertising and growing competition from other social media platforms have had impacts on Meta. It has been focusing on the metaverse, an online virtual world that incorporates elements of augmented reality, virtual reality, avatars and other communication, and has spent millions of dollars on it. (With inputs from agencies) WATCH WION LIVE HERE

Meta announces second round of layoffs, to cut 10,000 jobs

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<p>Facebook's parent company Meta is planning another round of mass layoffs that could see thousands lose their jobs, according to a report by Bloomberg. The firings are expected to take place as early as next week, with those overseeing the developments looking to get it done before CEO Mark Zuckerberg goes on parental leave for the birth of his third child.&nbsp;</p>

<p>A global slowdown and an impending recession have decreased the profit margins of nearly every tech giant and Meta - the world's largest social networking company - has borne the brunt of it as well. The fresh firings come in the backdrop of Meta slashing its 13 per cent workforce, or roughly 11,000 employees in November last year.&nbsp;</p>

<p><strong><a href="https://www.wionews.com/world/laid-off-meta-employees-at-loss-of-words-ask-for-work-opportunities-on-social-media-532946">Read more:</a>&nbsp;<a href="https://www.wionews.com/world/laid-off-meta-employees-at-loss-of-words-ask-for-work-opportunities-on-social-media-532946">Laid off Meta employees 'at loss of words', ask for work opportunities on social media</a></strong></p>

<p>The new round of firings was foreshadowed by Zuckerberg himself, who hinted that more such layoffs were in the offing, as the company attempted to make itself leaner at the base level.&nbsp;</p>

<p>“I obviously can’t sit here and promise you that nothing will happen in the future because it’s a very volatile environment,” said Zuckerberg before adding, “But what I can say is that for where we are right now, that’s what I foresee.”</p>

<p>Zuckerberg has dubbed 2023 as the “year of efficiency” and keeping the motto in mind, the managers have given subpar ratings to the employees in the latest round of performance reviews. Experts believe that it has been done to make sure the layoff process goes on smoothly.&nbsp;</p>

<p><a href="https://www.wionews.com/videos/another-round-of-jobs-cuts-at-meta-thousands-of-workers-could-be-impacted-reports-565005"><strong>WATCH |&nbsp;Another round of jobs cuts at Meta, thousands of workers could be impacted: Reports</strong></a></p>

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<p>“We’ve always had a goal-based culture of high performance, and our review process is intended to incentivise long-term thinking and high-quality work, while helping employees get actionable feedback,” a Meta spokesperson was quoted as saying by Wall Street Journal.&nbsp;</p>

<p>Meta is not the only company to have announced mass layoffs. Amazon has already slashed its workforce by 18,000 while Google and Microsoft have culled their headcount by 12,000 and 10,000 respectively.</p>

<p>Companies like Twitter, HP Goldman Sachs, Phillips, Adobe, Lyft and Coinbase Global have also cumulatively fired over 14,000 employees.&nbsp;</p>

<p><a href="https://www.wionews.com/business-economy/thousands-of-employees-at-facebook-parent-company-meta-receive-subpar-reviews-signals-more-job-cuts-reports-563268" target="_blank"><strong>Read more: Thousands of employees at Facebook parent company Meta receive subpar reviews, signals more job cuts: Reports</strong></a></p>

<p><em>(With inputs from agencies)</em></p>

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Facebook's parent company Meta is planning another round of mass layoffs that could see thousands lose their jobs, according to a report by Bloomberg. The firings are expected to take place as early as next week, with those overseeing the developments looking to get it done before CEO Mark Zuckerberg goes on parental leave for the birth of his third child.

Facebook's parent company Meta is planning another round of mass layoffs that could see thousands lose their jobs, according to a report by Bloomberg. The firings are expected to take place as early as next week, with those overseeing the developments looking to get it done before CEO Mark Zuckerberg goes on parental leave for the birth of his third child. A global slowdown and an impending recession have decreased the profit margins of nearly every tech giant and Meta - the world's largest social networking company - has borne the brunt of it as well. The fresh firings come in the backdrop of Meta slashing its 13 per cent workforce, or roughly 11,000 employees in November last year. Read more: Laid off Meta employees 'at loss of words', ask for work opportunities on social media The new round of firings was foreshadowed by Zuckerberg himself, who hinted that more such layoffs were in the offing, as the company attempted to make itself leaner at the base level. “I obviously can’t sit here and promise you that nothing will happen in the future because it’s a very volatile environment,” said Zuckerberg before adding, “But what I can say is that for where we are right now, that’s what I foresee.” Zuckerberg has dubbed 2023 as the “year of efficiency” and keeping the motto in mind, the managers have given subpar ratings to the employees in the latest round of performance reviews. Experts believe that it has been done to make sure the layoff process goes on smoothly. WATCH | Another round of jobs cuts at Meta, thousands of workers could be impacted: Reports × “We’ve always had a goal-based culture of high performance, and our review process is intended to incentivise long-term thinking and high-quality work, while helping employees get actionable feedback,” a Meta spokesperson was quoted as saying by Wall Street Journal. Meta is not the only company to have announced mass layoffs. Amazon has already slashed its workforce by 18,000 while Google and Microsoft have culled their headcount by 12,000 and 10,000 respectively. Companies like Twitter, HP Goldman Sachs, Phillips, Adobe, Lyft and Coinbase Global have also cumulatively fired over 14,000 employees. Read more: Thousands of employees at Facebook parent company Meta receive subpar reviews, signals more job cuts: Reports (With inputs from agencies) WATCH WION LIVE HERE:

Meta gears up for fresh round of firings, thousands could lose jobs: Report

<p>A report by the Wall Street Journal, citing people familiar with the matter, on Friday (February 17) claimed that Facebook parent company Meta gave thousands of employees below-average ratings in a recently concluded round of performance review. This comes months after the tech giant announced that it would fire 11,000 employees and after the recent poor reviews the company leadership believes that it would prompt more workers to quit in the upcoming weeks, reported the WSJ.&nbsp;</p>

<p>The people speaking to the publication also said that the company has also cut a bonus metric which is one of the several steps senior executives are taking after CEO Mark Zuckerberg dubbed 2023 as the “year of efficiency”. Additionally, the sources also told WSJ that the company leadership is hoping that the subpar reviews would lead to employees quitting in the upcoming week. However, if enough people do not quit, Meta may consider another round of layoffs, said the report.&nbsp;</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/world/laid-off-meta-employees-at-loss-of-words-ask-for-work-opportunities-on-social-media-532946">Laid off Meta employees 'at loss of words', ask for work opportunities on social media</a></strong></p>

<p>“Realistically, there are probably a bunch of people at the company who shouldn’t be here,” said Zuckerberg, in a town hall last year. The sources also said that at least 10 per cent of employees in the company have been given a “meets most” rating and that this is the second lowest of the five possible ratings at Meta. Therefore, some employees have taken this as a sign to look for new job opportunities, reported WSJ citing anonymous sources.&nbsp;</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/world/explained-why-did-meta-fire-13-per-cent-of-its-employees-whats-in-store-for-the-facebook-parent-company-533887">Meta layoffs EXPLAINED: Why did Meta fire 13% of its employees? What next for the Facebook parent company?</a></strong></p>

<p>This also comes months after a report by Insider citing two people familiar with the matter had made a similar claim and said that Meta wanted their managers to rank double the number of employees as low performing in their annual performance review. Additionally, the publication also reported that Meta will roughly double the number of employees receiving the downgraded “needs support” (the lowest rating) from “met most” expectations when compared to last year’s review cycle.&nbsp;<br />
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A report by the Wall Street Journal, citing people familiar with the matter, on Friday (February 17) claimed that Facebook parent company Meta gave thousands of employees below-average ratings in a recently concluded round of performance review.

A report by the Wall Street Journal, citing people familiar with the matter, on Friday (February 17) claimed that Facebook parent company Meta gave thousands of employees below-average ratings in a recently concluded round of performance review. This comes months after the tech giant announced that it would fire 11,000 employees and after the recent poor reviews the company leadership believes that it would prompt more workers to quit in the upcoming weeks, reported the WSJ. The people speaking to the publication also said that the company has also cut a bonus metric which is one of the several steps senior executives are taking after CEO Mark Zuckerberg dubbed 2023 as the “year of efficiency”. Additionally, the sources also told WSJ that the company leadership is hoping that the subpar reviews would lead to employees quitting in the upcoming week. However, if enough people do not quit, Meta may consider another round of layoffs, said the report. ALSO READ | Laid off Meta employees 'at loss of words', ask for work opportunities on social media “Realistically, there are probably a bunch of people at the company who shouldn’t be here,” said Zuckerberg, in a town hall last year. The sources also said that at least 10 per cent of employees in the company have been given a “meets most” rating and that this is the second lowest of the five possible ratings at Meta. Therefore, some employees have taken this as a sign to look for new job opportunities, reported WSJ citing anonymous sources. ALSO READ | Meta layoffs EXPLAINED: Why did Meta fire 13% of its employees? What next for the Facebook parent company? This also comes months after a report by Insider citing two people familiar with the matter had made a similar claim and said that Meta wanted their managers to rank double the number of employees as low performing in their annual performance review. Additionally, the publication also reported that Meta will roughly double the number of employees receiving the downgraded “needs support” (the lowest rating) from “met most” expectations when compared to last year’s review cycle. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Thousands of employees at Facebook parent company Meta receive subpar reviews, signals more job cuts: Reports

Mark Zuckerberg has now increased security allowance despite the massive layoffs that have been witnessed in the big tech giant companies including Meta. Now, four million dollar hike is what he's getting as part of his security allowance for Zuckerberg.

Mark Zuckerberg's security allowance hiked amid massive layoffs

<p>Mark Zuckerberg's security allowance is reported to have been hiked to $14 million by Facebook owner Meta amid a spell of layoffs. Social media giants owned by Meta - including Facebook and Instagram - have also recently witnessed retrenchment in what Zuckerberg defined as a "Year of Efficiency". Facebook and other American firms have been downsizing staff strength in the midst of what analysts have termed as an unspoken recession.&nbsp;</p>

<p>In a filing cited by news agency Reuters, Meta - on increasing Zuckerberg's security allowance by $4 million - said: "This increased allowance, together with the costs of Zuckerberg's existing overall security programme, are appropriate and necessary under the circumstances."&nbsp;</p>

<p>Meta has been cutting costs recently. It has also reportedly also delayed setting team budgets months after dismissing nearly 13 per cent of its global workforce. For 2023, the firm has lowered its estimates between the range of &nbsp;$89 billion- $95 billion, which were earlier in $94 billion-$100 billion range. &nbsp;</p>

<p>“Our management theme for 2023 is the ‘Year of Efficiency’ and we’re focused on becoming a stronger and more nimble organization,” Zuckerberg said as part of the release of Meta’s fourth-quarter earnings report.</p>

<p><strong>Also read:</strong>&nbsp;<a href="https://www.wionews.com/technology/mark-zuckerberg-loses-more-than-118-million-followers-on-facebook-heres-why-524865">Mark Zuckerberg 'loses' more than 118 million followers on Facebook - Here's why</a></p>

<p>On the drop in revenues, he said: “The first 18 years I think we grew it 20 per cent, 30 per cent compound or a lot more every year, And then obviously that changed dramatically in 2022, where our revenue was negative for growth, for the first time in the company’s history.”</p>

<p><em><strong>(With agency inputs)&nbsp;</strong></em><br />
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Mark Zuckerberg's security allowance is reported to have been hiked to $14 million by Facebook owner Meta amid a spell of layoffs. Social media giants owned by Meta - including Facebook and Instagram - have also recently witnessed retrenchment in what Zuckerberg defined as a "Year of Efficiency".

Mark Zuckerberg's security allowance is reported to have been hiked to $14 million by Facebook owner Meta amid a spell of layoffs. Social media giants owned by Meta - including Facebook and Instagram - have also recently witnessed retrenchment in what Zuckerberg defined as a "Year of Efficiency". Facebook and other American firms have been downsizing staff strength in the midst of what analysts have termed as an unspoken recession. In a filing cited by news agency Reuters, Meta - on increasing Zuckerberg's security allowance by $4 million - said: "This increased allowance, together with the costs of Zuckerberg's existing overall security programme, are appropriate and necessary under the circumstances." Meta has been cutting costs recently. It has also reportedly also delayed setting team budgets months after dismissing nearly 13 per cent of its global workforce. For 2023, the firm has lowered its estimates between the range of $89 billion- $95 billion, which were earlier in $94 billion-$100 billion range. “Our management theme for 2023 is the ‘Year of Efficiency’ and we’re focused on becoming a stronger and more nimble organization,” Zuckerberg said as part of the release of Meta’s fourth-quarter earnings report. Also read: Mark Zuckerberg 'loses' more than 118 million followers on Facebook - Here's why On the drop in revenues, he said: “The first 18 years I think we grew it 20 per cent, 30 per cent compound or a lot more every year, And then obviously that changed dramatically in 2022, where our revenue was negative for growth, for the first time in the company’s history.” (With agency inputs) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Zuckerberg security allowance hiked to $14 million amid layoffs: A lowdown

<p>The number of Facebook users grew to an average of two billion in December 2022, which is about a quarter of the world's population. This comes after a time when Facebook founder and CEO, Mark Zuckerberg said that 2022 was a 'challenging' year for his company. This bigger-than-expected growth helped drive new optimism about the company, which has been under pressure as its costs and advertising sales slump.</p>

<p>The share of the parent company of Facebook, Meta surged more than 15 per cent in after-hours trade as Zuckerberg declared 2023 as the 'year of efficiency' and said that he was focused on more cuts.&nbsp;</p>

<p>Also Read |&nbsp;<a href="https://www.wionews.com/trending/world-wetlands-day-2023-history-significance-theme-ramsar-sites-and-all-you-need-to-know-558114">World Wetlands Day 2023: History, significance, theme, Ramsar sites and all you need to know</a></p>

<p>Zuckerberg said, "We're in a different environment now", pointing to the firm's revenue, which saw a decline in 2022 for the first time in its history after years of double-digit growth.</p>

<p>"We don't anticipate that that's going to continue, but I also don't think it's going to go back to the way it was before."</p>

<p>The parent company of Facebook, Meta, also owns Instagram and WhatsApp. It announced a major restructuring last year, including a reduction in office space and cutting of 11,000 jobs or about 13 per cent of the staff.&nbsp;The firm defended its move as it helped them cut $4.6bn last year, hitting its profits, which were almost cut in half. It still brought in $23.2bn in profit for the year.</p>

<p>"2022 was a challenging year but I think we ended it having made good progress", Mr Zuckerberg said.<br />
In the three months to December, the firm said revenue was $32.2bn, down 4% year-on-year. But that was better than many analysts had expected.</p>

<p>Watch |&nbsp;<strong>How Mark Zuckerberg lost his fortune</strong></p>

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<p>Investors were alarmed last year by Facebook's first-ever decline in daily Facebook users in its history and signalled that it was focusing more on investments in the virtual reality area, known as the metaverse. But in December, the number of users on the site was up 4 per cent from a year earlier, adding even in Europe and the US and Canada.&nbsp;</p>

<p>Meta said that the number of people active across all of its apps each day was up by 5 per cent year-on-year.</p>

<p>Zuckerberg said the company was making progress with its video product,i.e, Reels, which it has been focused on as it faces off with rivals such as TikTok, which have gained traction, especially among younger users. Mr Zuckerberg said those efforts were starting to pay off, and ad dollars were starting to follow users to the videos.</p>

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The number of Facebook users grew to an average of two billion in December 2022, which is about a quarter of the world's population. This comes after a time when Facebook founder and CEO, Mark Zuckerberg said that 2022 was a 'challenging' year for his company.

The number of Facebook users grew to an average of two billion in December 2022, which is about a quarter of the world's population. This comes after a time when Facebook founder and CEO, Mark Zuckerberg said that 2022 was a 'challenging' year for his company. This bigger-than-expected growth helped drive new optimism about the company, which has been under pressure as its costs and advertising sales slump. The share of the parent company of Facebook, Meta surged more than 15 per cent in after-hours trade as Zuckerberg declared 2023 as the 'year of efficiency' and said that he was focused on more cuts. Also Read | World Wetlands Day 2023: History, significance, theme, Ramsar sites and all you need to know Zuckerberg said, "We're in a different environment now", pointing to the firm's revenue, which saw a decline in 2022 for the first time in its history after years of double-digit growth. "We don't anticipate that that's going to continue, but I also don't think it's going to go back to the way it was before." The parent company of Facebook, Meta, also owns Instagram and WhatsApp. It announced a major restructuring last year, including a reduction in office space and cutting of 11,000 jobs or about 13 per cent of the staff. The firm defended its move as it helped them cut $4.6bn last year, hitting its profits, which were almost cut in half. It still brought in $23.2bn in profit for the year. "2022 was a challenging year but I think we ended it having made good progress", Mr Zuckerberg said. In the three months to December, the firm said revenue was $32.2bn, down 4% year-on-year. But that was better than many analysts had expected. Watch | How Mark Zuckerberg lost his fortune × Investors were alarmed last year by Facebook's first-ever decline in daily Facebook users in its history and signalled that it was focusing more on investments in the virtual reality area, known as the metaverse. But in December, the number of users on the site was up 4 per cent from a year earlier, adding even in Europe and the US and Canada. Meta said that the number of people active across all of its apps each day was up by 5 per cent year-on-year. Zuckerberg said the company was making progress with its video product,i.e, Reels, which it has been focused on as it faces off with rivals such as TikTok, which have gained traction, especially among younger users. Mr Zuckerberg said those efforts were starting to pay off, and ad dollars were starting to follow users to the videos. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

About a quarter of world's population is on Facebook now as number of users grew to an average of 2 billion

<p>Facebook co-founder Mark Zuckerberg greeted everyone on New Year by sharing a photo of himself with his pregnant wife Priscilla Chan. The couple would be welcoming their third child in 2023.</p>

<p>In an Instagram post, the Meta CEO, wearing a black tuxedo, shared a photo of him cradling his wife’s baby bump, as Chan looks on.</p>

<p>"Happy New Year! Here's to all of the adventures and love coming in 2023," the caption said. In another picture, he was seen sharing a candid moment with his daughter.</p>

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<p>In September 2022, the tech billionaire announced that his wife is pregnant with their third kid. He wrote, "Lots of love. Happy to share that Max and August are getting a new baby sister next year".</p>

<p>The couple has been married since 2012, and already has two daughters. Their first daughter, Maxima Chan Zuckerberg, was born in December 2015, and their second daughter 'August' in August 2017.</p>

<p>Zuckerberg and Chan have known each other since 2003 when they met at a Harvard University frat party. Both tied the knot on May 19, 2012, at Zuckerberg’s mansion. They celebrated their 10th wedding anniversary in 2022 and marked the occasion by recreating a scene from their wedding.</p>

<h2><strong>Why has Canada imposed a two-year ban on foreign home buyers?</strong></h2>

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<p>Chan, 37, is a pediatrician and philanthropist. After graduating from Harvard University, she studied medicine at the University of California. Her parents were Chinese immigrants from Vietnam who fled the country.</p>

<p>According to Zuckerberg, Chan is a non-denominational Buddhist.</p>

<p>In an interview last year, Zuckerberg said that working with his wife to run the Chan-Zuckerberg Initiative opened up a new side of their relationship, according to Business Insider.</p>

<p>"It's been really cool getting the chance to work with my wife Priscilla on this, it's opened up a whole new side of our relationship, where it's like we were partners and now we also get to work together," the 38-year-old had said.</p>

<p>"She's brilliant, she's a doctor and understands so many more things about biological science than I do and I can bring this whole engineering perspective, and we learn so much from doing that together."</p>

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Facebook co-founder Mark Zuckerberg greeted everyone on New Year by sharing a photo of himself with his pregnant wife Priscilla Chan. The couple would be welcoming their third child in 2023.

Facebook co-founder Mark Zuckerberg greeted everyone on New Year by sharing a photo of himself with his pregnant wife Priscilla Chan. The couple would be welcoming their third child in 2023. In an Instagram post, the Meta CEO, wearing a black tuxedo, shared a photo of him cradling his wife’s baby bump, as Chan looks on. "Happy New Year! Here's to all of the adventures and love coming in 2023," the caption said. In another picture, he was seen sharing a candid moment with his daughter. View this post on Instagram A post shared by Mark Zuckerberg (@zuck) × In September 2022, the tech billionaire announced that his wife is pregnant with their third kid. He wrote, "Lots of love. Happy to share that Max and August are getting a new baby sister next year". The couple has been married since 2012, and already has two daughters. Their first daughter, Maxima Chan Zuckerberg, was born in December 2015, and their second daughter 'August' in August 2017. Zuckerberg and Chan have known each other since 2003 when they met at a Harvard University frat party. Both tied the knot on May 19, 2012, at Zuckerberg’s mansion. They celebrated their 10th wedding anniversary in 2022 and marked the occasion by recreating a scene from their wedding. Why has Canada imposed a two-year ban on foreign home buyers? Chan, 37, is a pediatrician and philanthropist. After graduating from Harvard University, she studied medicine at the University of California. Her parents were Chinese immigrants from Vietnam who fled the country. According to Zuckerberg, Chan is a non-denominational Buddhist. In an interview last year, Zuckerberg said that working with his wife to run the Chan-Zuckerberg Initiative opened up a new side of their relationship, according to Business Insider. "It's been really cool getting the chance to work with my wife Priscilla on this, it's opened up a whole new side of our relationship, where it's like we were partners and now we also get to work together," the 38-year-old had said. "She's brilliant, she's a doctor and understands so many more things about biological science than I do and I can bring this whole engineering perspective, and we learn so much from doing that together." WATCH WION LIVE HERE:

Mark Zuckerberg shares photo of pregnant wife Priscilla Chan on New Year

From boom to bust: How billionaires experienced wealth shrink in 2022

<p>Meta's Mark Zuckerberg on Tuesday (December 20) defended the company's acquisition of a virtual reality fitness app before an antitrust judge. Zuckerberg argued that Meta was helping build the&nbsp;virtual reality industry, not dominate it. He testified in federal court in San Jose, California.&nbsp;</p>

<p>Zuckerberg argued that acquiring app maker Within Unlimited was "not that critical" to Meta's ambitions. He said that Meta was aiming at building communications tools and an app platform for apps from different developers.</p>

<p>On fitness apps, he said, "It's less important that we own the experiences than that they exist." He said he was keen to see other firms build key productivity and gaming apps to draw a mass audience to virtual and augmented reality.</p>

<p><strong>World Business Watch: Meta stock value plunges 65% in 2022; loses $9.4 bn in first 9 months</strong></p>

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<p>United States' Federal Trade Commission (FTC) has accused Meta of trying to buy its way to the top of Virtual Reality industry.</p>

<p>FTC lawyers kicked off the proceedings by asking him about an internal email Zuckerberg wrote in 2015 where he said he expected Meta to build "most of the apps and software services" for the VR industry.</p>

<p>Zuckerberg replied that major platform owners tend to build the most popular apps in their area of expertise, likening Meta's emphasis on communications to Microsoft Corp's focus on productivity.</p>

<p>Platform companies have built "the key apps, what they call the killer apps," Zuckerberg said, "but they're not the only apps available."</p>

<p>The FTC sued the Facebook and Instagram owner in July to stop the Within Unlimited deal and asked the judge to order a preliminary injunction, saying Meta's "campaign to conquer VR" began in 2014 when it acquired Oculus, a VR headset manufacturer.</p>

<p><strong>Also Read | <a href="https://www.wionews.com/world/european-commission-charges-meta-of-breaching-eu-antitrust-rules-544575">European Commission finds Meta in breach of ‘EU antitrust rules'</a></strong></p>

<p>The trial is only one of many battles Meta is fighting against regulators globally over its alleged dominance in various markets. The European Commission on Monday said it had warned Meta of a possible antitrust breach related to online classified advertising.</p>

<p>The company said earlier on Tuesday that it does not expect to close the Within deal before Jan. 31 or until the day after the court rules on the FTC's request for a preliminary injunction.</p>

<p><em>(With inputs from agencies)</em></p>

<p><em>You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form"><strong>here</strong></a>.</em></p>

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Meta's Mark Zuckerberg on Tuesday (December 20) defended the company's acquisition of a virtual reality fitness app before an antitrust judge. Zuckerberg argued that Meta was helping build the virtual reality industry, not dominate it.

Meta's Mark Zuckerberg on Tuesday (December 20) defended the company's acquisition of a virtual reality fitness app before an antitrust judge. Zuckerberg argued that Meta was helping build the virtual reality industry, not dominate it. He testified in federal court in San Jose, California. Zuckerberg argued that acquiring app maker Within Unlimited was "not that critical" to Meta's ambitions. He said that Meta was aiming at building communications tools and an app platform for apps from different developers. On fitness apps, he said, "It's less important that we own the experiences than that they exist." He said he was keen to see other firms build key productivity and gaming apps to draw a mass audience to virtual and augmented reality. World Business Watch: Meta stock value plunges 65% in 2022; loses $9.4 bn in first 9 months × United States' Federal Trade Commission (FTC) has accused Meta of trying to buy its way to the top of Virtual Reality industry. FTC lawyers kicked off the proceedings by asking him about an internal email Zuckerberg wrote in 2015 where he said he expected Meta to build "most of the apps and software services" for the VR industry. Zuckerberg replied that major platform owners tend to build the most popular apps in their area of expertise, likening Meta's emphasis on communications to Microsoft Corp's focus on productivity. Platform companies have built "the key apps, what they call the killer apps," Zuckerberg said, "but they're not the only apps available." The FTC sued the Facebook and Instagram owner in July to stop the Within Unlimited deal and asked the judge to order a preliminary injunction, saying Meta's "campaign to conquer VR" began in 2014 when it acquired Oculus, a VR headset manufacturer. Also Read | European Commission finds Meta in breach of ‘EU antitrust rules' The trial is only one of many battles Meta is fighting against regulators globally over its alleged dominance in various markets. The European Commission on Monday said it had warned Meta of a possible antitrust breach related to online classified advertising. The company said earlier on Tuesday that it does not expect to close the Within deal before Jan. 31 or until the day after the court rules on the FTC's request for a preliminary injunction. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Mark Zuckerberg defends Meta before antitrust judge on bid for dominance in virtual reality segment

<p>Andy Stone,&nbsp;Meta spokesperson&nbsp;claimed in a tweet on Tuesday that a report that Mark Zuckerberg would step down as the&nbsp;CEO next year&nbsp;was untrue.&nbsp;The Leak, a news outlet, had earlier in the day cited an anonymous insider source in its allegation that Zuckerberg would step down in 2023. The news briefly caused the company's shares to increase by 1 per cent.&nbsp;</p>

<p>According to a source familiar with Meta's plans, it was the Leak portal that originally reported that "Zuckerberg is set to resign next year."&nbsp;</p>

<p>Zuckerberg has opted to step down personally, and his multibillion-dollar project, "metaverse," won't be affected, the report said.</p>

<p>Late on Tuesday, Andy Stone, the director of communications at Meta, tweeted that the claim was untrue.&nbsp;</p>

<p>It is rumoured that Zuckerberg is committed to aggressively promoting his Metaverse concept despite the major reservations voiced by investors and industry professionals.&nbsp;</p>

<p>Also Read:&nbsp;<a href="https://www.wionews.com/world/over-100-pristine-indonesian-islands-up-for-auction-536721">Over 100 pristine Indonesian islands up for auction</a></p>

<p>After terminating over 11,000 employees and extending a recruiting freeze at Meta, Zuckerberg issued an apology.</p>

<p>About 13 per cent&nbsp;of the global staff of Meta was let go, making this one of the biggest layoffs in the history of the tech sector.&nbsp;</p>

<p>Investors are starting to lose faith in the company's billion-dollar, loss-making metaverse dream after it reported another quarterly revenue dip.&nbsp;</p>

<p>In the third quarter, Meta's revenue plummeted to $27.7 billion, a four per cent&nbsp;year-over-year reduction (Q3). In comparison to last year, the corporation reported a net income of $4.395 billion, a decrease from $9.194 billion.</p>

<p><em>(with inputs from agencies)</em></p>

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Andy Stone, Meta spokesperson claimed in a tweet on Tuesday that a report that Mark Zuckerberg would step down as the CEO next year was untrue. The Leak, a news outlet, had earlier in the day cited an anonymous insider source in its allegation that Zuckerberg would step down in 2023.

Andy Stone, Meta spokesperson claimed in a tweet on Tuesday that a report that Mark Zuckerberg would step down as the CEO next year was untrue. The Leak, a news outlet, had earlier in the day cited an anonymous insider source in its allegation that Zuckerberg would step down in 2023. The news briefly caused the company's shares to increase by 1 per cent. According to a source familiar with Meta's plans, it was the Leak portal that originally reported that "Zuckerberg is set to resign next year." Zuckerberg has opted to step down personally, and his multibillion-dollar project, "metaverse," won't be affected, the report said. Late on Tuesday, Andy Stone, the director of communications at Meta, tweeted that the claim was untrue. It is rumoured that Zuckerberg is committed to aggressively promoting his Metaverse concept despite the major reservations voiced by investors and industry professionals. Also Read: Over 100 pristine Indonesian islands up for auction After terminating over 11,000 employees and extending a recruiting freeze at Meta, Zuckerberg issued an apology. About 13 per cent of the global staff of Meta was let go, making this one of the biggest layoffs in the history of the tech sector. Investors are starting to lose faith in the company's billion-dollar, loss-making metaverse dream after it reported another quarterly revenue dip. In the third quarter, Meta's revenue plummeted to $27.7 billion, a four per cent year-over-year reduction (Q3). In comparison to last year, the corporation reported a net income of $4.395 billion, a decrease from $9.194 billion. (with inputs from agencies)

Report of CEO Zuckerberg stepping down next year false: Meta spokesperson

<p>Sandhya Devanathan has been named the India head of Meta, the social media giant announced on Thursday, days after Ajit Mohan resignation as Meta's former India head. Instagram, Facebook, and WhatsApp are all owned by Meta.&nbsp;Devanathan has been appointed as the new head of Meta's operations in India, and Marne Levine, the company's chief business officer, expressed his pleasure at her appointment.</p>

<blockquote>
<p><strong>"I'm pleased to welcome Sandhya as our new leader for India. Sandhya has a proven track record of scaling businesses, building exceptional and inclusive teams, driving product innovation and building strong partnerships. We are thrilled to have her lead Meta's continued growth in India," Marne Levine said.</strong></p>
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<p>Who is Sandhya Devanathan and what is her career trajectory? We explain&nbsp;in depth.&nbsp;</p>

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<p dir="ltr" lang="en">Meta announced the appointment of Sandhya Devanathan as the Vice President of Meta India.<br />
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(Pic credit: Sandhya Devanathan LinkedIn account) <a href="https://t.co/zR7yhi4RgM">pic.twitter.com/zR7yhi4RgM</a></p>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1593169122850136064?ref_src=twsrc%5Etfw">November 17, 2022</a></blockquote>
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<h2><strong>Background to her appointment as Meta's&nbsp;India head</strong></h2>

<p>Devanathan assumes leadership of Meta's India division during a difficult phase for the firm, which recently let go of more than 11,000 employees&nbsp;or <a href="https://www.wionews.com/business-economy/from-pandemic-boom-to-lay-off-season-why-big-tech-companies-firing-thousands-of-employees-534471">13 per cent&nbsp;of its staff</a>. According to Reuters, Mark Zuckerberg, the CEO of Meta, placed a costly wager on the metaverse project, which increased the company's overall expenditures by a fifth in the third quarter.</p>

<p><strong>Also read |</strong>&nbsp;<a href="https://www.wionews.com/world/explained-why-did-meta-fire-13-per-cent-of-its-employees-whats-in-store-for-the-facebook-parent-company-533887">Meta layoffs EXPLAINED: Why did Meta fire 13% of its employees? What next for the Facebook parent company?</a></p>

<p>Investors dumped Meta's stock as a result, sending it down 20 per cent and wiping off about $67 billion in market value for the business, which also reported its fourth consecutive quarter of declining quarterly earnings. The company's poor prognosis, according to Reuters, comes at a time when it must contend with TikTok's fierce competition, a slowdown in global economic development, changes to Apple's privacy policies that have an impact on its advertising business, and declining global economic growth.</p>

<h2><strong>Who is Sandhya Devanathan?</strong></h2>

<p>Sandhya Devanathan joined Meta in 2016. She assisted in establishing the companies and teams in Singapore and Vietnam. She also supported Meta's e-commerce efforts in Southeast Asia.</p>

<p>Devanathan has a 22-year career experience in banking, payments, and technology. Meta states&nbsp;that Devanathan "moved to lead gaming for APAC (Asia-Pacific region) in 2020, which is one of the largest verticals for Meta globally and that she also brings a passion for developing women leaders in business and is the Executive Sponsor for Women@APAC at Meta as well as the global lead for Play Forward, a global Meta initiative to improve diversity representation in the gaming industry.</p>

<p><strong>Also read |&nbsp;</strong><a href="https://www.wionews.com/technology/meta-announces-departure-of-whatsapp-india-head-abhijit-bose-metas-india-public-policy-chief-rajiv-aggarwal-534468">Meta announces departure of India policy chief Rajiv Aggarwal, Whatsapp India head Abhijit Bose</a></p>

<h2><strong>Education and former jobs</strong></h2>

<p>Devanathan did her B. Tech in Chemical Engineering from Andhra University (1994-1998), followed by an MBA from Faculty of management studies, Delhi University (1998-2000). In 2014, she went to the University of Oxford for a course in leadership.&nbsp;</p>

<p>Her previous employers include Citibank and Standard Chartered.&nbsp;she worked in various positions from May 2000 to December 2009 with Citibank, while she worked with Standard Chartered from December 2009 to December 2015.</p>

<p>Devanathan also sits on the boards of various organisations, or has in the past. These organisations include the Women's Forum for the Economy and Society, the National Library Board of Singapore, the Pepper Financial Services Group, the Singapore Management University, and the Ministry of Information and Communications (Singapore).</p>

<h2><strong>What does her new role entail?</strong></h2>

<p>The social media behemoth has stated that Sandhya Devanathan would oversee the organisation's India charter and deepen strategic ties with the major brands, creators, advertisers, and partners in the nation in order to propel Meta's revenue growth across important channels in India.</p>

<p>While continuing to support the long-term expansion of Meta's business and commitment to India, Devanathan will concentrate on aligning the organisation's business and revenue goals to serve its partners and clients, the firm said.</p>

<p><strong>ALSO&nbsp;WATCH |&nbsp;WION Fineprint | Indian workers on H-1B visa race against time</strong></p>

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Sandhya Devanathan has been named the India head of Meta, the social media giant announced on Thursday, days after Ajit Mohan resignation as Meta's former India head.

Sandhya Devanathan has been named the India head of Meta, the social media giant announced on Thursday, days after Ajit Mohan resignation as Meta's former India head. Instagram, Facebook, and WhatsApp are all owned by Meta. Devanathan has been appointed as the new head of Meta's operations in India, and Marne Levine, the company's chief business officer, expressed his pleasure at her appointment. "I'm pleased to welcome Sandhya as our new leader for India. Sandhya has a proven track record of scaling businesses, building exceptional and inclusive teams, driving product innovation and building strong partnerships. We are thrilled to have her lead Meta's continued growth in India," Marne Levine said. Who is Sandhya Devanathan and what is her career trajectory? We explain in depth. Meta announced the appointment of Sandhya Devanathan as the Vice President of Meta India. (Pic credit: Sandhya Devanathan LinkedIn account) pic.twitter.com/zR7yhi4RgM — ANI (@ANI) November 17, 2022 × Background to her appointment as Meta's India head Devanathan assumes leadership of Meta's India division during a difficult phase for the firm, which recently let go of more than 11,000 employees or 13 per cent of its staff. According to Reuters, Mark Zuckerberg, the CEO of Meta, placed a costly wager on the metaverse project, which increased the company's overall expenditures by a fifth in the third quarter. Also read | Meta layoffs EXPLAINED: Why did Meta fire 13% of its employees? What next for the Facebook parent company? Investors dumped Meta's stock as a result, sending it down 20 per cent and wiping off about $67 billion in market value for the business, which also reported its fourth consecutive quarter of declining quarterly earnings. The company's poor prognosis, according to Reuters, comes at a time when it must contend with TikTok's fierce competition, a slowdown in global economic development, changes to Apple's privacy policies that have an impact on its advertising business, and declining global economic growth. Who is Sandhya Devanathan? Sandhya Devanathan joined Meta in 2016. She assisted in establishing the companies and teams in Singapore and Vietnam. She also supported Meta's e-commerce efforts in Southeast Asia. Devanathan has a 22-year career experience in banking, payments, and technology. Meta states that Devanathan "moved to lead gaming for APAC (Asia-Pacific region) in 2020, which is one of the largest verticals for Meta globally and that she also brings a passion for developing women leaders in business and is the Executive Sponsor for Women@APAC at Meta as well as the global lead for Play Forward, a global Meta initiative to improve diversity representation in the gaming industry. Also read | Meta announces departure of India policy chief Rajiv Aggarwal, Whatsapp India head Abhijit Bose Education and former jobs Devanathan did her B. Tech in Chemical Engineering from Andhra University (1994-1998), followed by an MBA from Faculty of management studies, Delhi University (1998-2000). In 2014, she went to the University of Oxford for a course in leadership. Her previous employers include Citibank and Standard Chartered. she worked in various positions from May 2000 to December 2009 with Citibank, while she worked with Standard Chartered from December 2009 to December 2015. Devanathan also sits on the boards of various organisations, or has in the past. These organisations include the Women's Forum for the Economy and Society, the National Library Board of Singapore, the Pepper Financial Services Group, the Singapore Management University, and the Ministry of Information and Communications (Singapore). What does her new role entail? The social media behemoth has stated that Sandhya Devanathan would oversee the organisation's India charter and deepen strategic ties with the major brands, creators, advertisers, and partners in the nation in order to propel Meta's revenue growth across important channels in India. While continuing to support the long-term expansion of Meta's business and commitment to India, Devanathan will concentrate on aligning the organisation's business and revenue goals to serve its partners and clients, the firm said. ALSO WATCH | WION Fineprint | Indian workers on H-1B visa race against time

Sandhya Devanathan appointed as Meta's new India head: What does her new role entail?

<p>Facebook's parent company Meta executed one of the biggest layoffs this year as over 11,000 employees were sacked&nbsp;following an announcement by Mark Zuckerberg.</p>

<p>Zuckerberg issued a statement Wednesday saying that 13 per cent of its workforce would be fired. The Meta CEO said he "got this wrong" and apologised to staff for over-investing in the company while designating the layoffs a "last resort".&nbsp;</p>

<p>The employees were reportedly notified of the layoffs over email on Wednesday morning.</p>

<p><strong>WATCH |&nbsp;<a href="https://www.wionews.com/videos/gravitas-meta-set-to-fire-thousands-of-employees-532369">Gravitas: Meta set to fire thousands of employees</a></strong></p>

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<p>Many former Meta employees took to Twitter, informing people on the microblogging site that they are 'actively seeking' their next career opportunity. Others expressed their gratitude for being able to work at a company like Meta even as they faced broad layoffs. For some young employees, it was the first&nbsp;layoff of such kind that they had seen in their careers. Others found their entire teams laid off, evoking reactions of shock and disappointment.&nbsp;</p>

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<p dir="ltr" lang="en">Just found out I've been laid off at Meta. As a result, I'm actively seeking my next opportunity.<br />
<br />
I've been writing about games, tech, and VR in some capacity for over 10 years with xp in journalism, tech comms, PR, marketing, dev rel and more.<br />
<br />
If you have leads please lmk! 🙏</p>
— David Jagneaux 🚨Looking For Work🚨 (@David_Jagneaux) <a href="https://twitter.com/David_Jagneaux/status/1590353100745080833?ref_src=twsrc%5Etfw">November 9, 2022</a></blockquote>
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<p dir="ltr" lang="en">Just got laid off by Meta along with my entire team. I was one of the lead engineers working on Meta Quest. I am at a loss for words right now.<br />
<br />
I truly believed in the VR/AR vision laid out by Mark. I still do. Not sure where this is headed…<br />
<br />
Thread to come <a href="https://twitter.com/hashtag/Meta?src=hash&amp;ref_src=twsrc%5Etfw">#Meta</a> <a href="https://twitter.com/hashtag/MetaLayOffs?src=hash&amp;ref_src=twsrc%5Etfw">#MetaLayOffs</a></p>
— Mik (@autovonbis) <a href="https://twitter.com/autovonbis/status/1590381176019382272?ref_src=twsrc%5Etfw">November 9, 2022</a></blockquote>
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<p>&nbsp;</p>

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<p dir="ltr" lang="en">I've been laid off from Meta. Almost 7 years of work there, it really was one of the best opportunities. We're flying to Japan today for two weeks. When I return, I'll need to start looking for new research positions, so please keep me in mind! Might write a book too.</p>
— Alex Leavitt, PhD (they/them) (@alexleavitt) <a href="https://twitter.com/alexleavitt/status/1590356182564491264?ref_src=twsrc%5Etfw">November 9, 2022</a></blockquote>
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<p dir="ltr" lang="en">I've been laid off from Meta. Our entire research/infra org "Probability" was cut.<br />
<br />
I deeply appreciate the people who helped me get there, and the great people I worked with for a year and half.<br />
<br />
I hope to stay in the Bay Area a while longer, if anyone needs some algorithms.</p>
— Thomas Ahle (@thomasahle) <a href="https://twitter.com/thomasahle/status/1590493493067382785?ref_src=twsrc%5Etfw">November 9, 2022</a></blockquote>
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<p>&nbsp;</p>

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<p dir="ltr" lang="en">Just got laid off by Meta along with my entire team. I was the lead engineer working on adding legs to the Metaverse. I am at a complete loss for words right now. Not sure what this means for the future of the company.</p>
— Alexius (@Alexius_sc2) <a href="https://twitter.com/Alexius_sc2/status/1590388439878619136?ref_src=twsrc%5Etfw">November 9, 2022</a></blockquote>
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<p>Meta said that it will provide three months of career support to its laid-off employees, 'including early access to unpublished job leads'.&nbsp;</p>

<p>Meta has cut staff from the US, UK, Ireland, and Ghana, the posts show. The group of people laid off included some product designers, recruiters, and engineers, as well as some who worked in recruitment, marketing, Meta's Reality Labs, and the Quest division.</p>

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Facebook's parent company Meta executed one of the biggest layoffs this year as over 11,000 employees were sacked following an announcement by Mark Zuckerberg. Zuckerberg issued a statement Wednesday saying that 13 per cent of its workforce would be fired.

Facebook's parent company Meta executed one of the biggest layoffs this year as over 11,000 employees were sacked following an announcement by Mark Zuckerberg. Zuckerberg issued a statement Wednesday saying that 13 per cent of its workforce would be fired. The Meta CEO said he "got this wrong" and apologised to staff for over-investing in the company while designating the layoffs a "last resort". The employees were reportedly notified of the layoffs over email on Wednesday morning. WATCH | Gravitas: Meta set to fire thousands of employees × Many former Meta employees took to Twitter, informing people on the microblogging site that they are 'actively seeking' their next career opportunity. Others expressed their gratitude for being able to work at a company like Meta even as they faced broad layoffs. For some young employees, it was the first layoff of such kind that they had seen in their careers. Others found their entire teams laid off, evoking reactions of shock and disappointment. Just found out I've been laid off at Meta. As a result, I'm actively seeking my next opportunity. I've been writing about games, tech, and VR in some capacity for over 10 years with xp in journalism, tech comms, PR, marketing, dev rel and more. If you have leads please lmk! 🙏 — David Jagneaux 🚨Looking For Work🚨 (@David_Jagneaux) November 9, 2022 × Just got laid off by Meta along with my entire team. I was one of the lead engineers working on Meta Quest. I am at a loss for words right now. I truly believed in the VR/AR vision laid out by Mark. I still do. Not sure where this is headed… Thread to come #Meta #MetaLayOffs — Mik (@autovonbis) November 9, 2022 × I've been laid off from Meta. Almost 7 years of work there, it really was one of the best opportunities. We're flying to Japan today for two weeks. When I return, I'll need to start looking for new research positions, so please keep me in mind! Might write a book too. — Alex Leavitt, PhD (they/them) (@alexleavitt) November 9, 2022 × I've been laid off from Meta. Our entire research/infra org "Probability" was cut. I deeply appreciate the people who helped me get there, and the great people I worked with for a year and half. I hope to stay in the Bay Area a while longer, if anyone needs some algorithms. — Thomas Ahle (@thomasahle) November 9, 2022 × Just got laid off by Meta along with my entire team. I was the lead engineer working on adding legs to the Metaverse. I am at a complete loss for words right now. Not sure what this means for the future of the company. — Alexius (@Alexius_sc2) November 9, 2022 × Meta said that it will provide three months of career support to its laid-off employees, 'including early access to unpublished job leads'. Meta has cut staff from the US, UK, Ireland, and Ghana, the posts show. The group of people laid off included some product designers, recruiters, and engineers, as well as some who worked in recruitment, marketing, Meta's Reality Labs, and the Quest division. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Laid off Meta employees 'at loss of words', ask for work opportunities on social media

<p>Facebook’s parent company Meta has decided to follow the examples of tech giants like Twitter and Microsoft to announce massive job cuts. Meta CEO Mark Zuckerburg said on Wednesday that the company will be firing over 11,000 employees following a severe dip in revenue.</p>

<p>"Today I'm sharing some of the most difficult changes we've made in Meta's history. I've decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go."</p>

<p>Also read |&nbsp;<a href="https://www.wionews.com/world/us-midterm-elections-2022-live-updates-voting-begins-with-experts-favouring-republicans-532269" hreflang="en">US midterms LIVE | 'Bloodbath!!!': Trump's son tweets as Republicans surge</a></p>

<p>"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," he wrote in a blog.</p>

<p>According to CNBC, the employees will receive 16 weeks of base pay as severance and the company will be paying for their healthcare for six months. Zuckerberg apologised to the workers and said, "I want to take accountability for these decisions and for how we got here”.</p>

<p>Also read |&nbsp;<a href="https://www.wionews.com/world/exit-polls-show-most-voters-dont-joe-biden-to-run-for-president-in-2024-532573">Exit polls show most voters don’t want Joe Biden to run for president in 2024</a></p>

<p>The announcement came amid similar steps taken by Twitter with new owner Elon Musk looking to complete an overhaul of the social media platform. This will be the first budget cut in Facebook’s history and according to experts, it was mainly caused by the failure of the metaverse project.</p>

<p>Apart from the job cuts, Meta has also extended their hiring freeze since March 23 in an attempt to “become a leaner organisation”. &nbsp;The global economy has taken a major hit after the COVID-19 pandemic and that was cited by Zuckerberg while explaining the board’s “tough decisions”.</p>

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Facebook’s parent company Meta has decided to follow the examples of tech giants like Twitter and Microsoft to announce massive job cuts. Meta CEO Mark Zuckerburg said on Wednesday that the company will be firing over 11,000 employees following a severe dip in revenue.

Facebook’s parent company Meta has decided to follow the examples of tech giants like Twitter and Microsoft to announce massive job cuts. Meta CEO Mark Zuckerburg said on Wednesday that the company will be firing over 11,000 employees following a severe dip in revenue. "Today I'm sharing some of the most difficult changes we've made in Meta's history. I've decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go." Also read | US midterms LIVE | 'Bloodbath!!!': Trump's son tweets as Republicans surge "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," he wrote in a blog. According to CNBC, the employees will receive 16 weeks of base pay as severance and the company will be paying for their healthcare for six months. Zuckerberg apologised to the workers and said, "I want to take accountability for these decisions and for how we got here”. Also read | Exit polls show most voters don’t want Joe Biden to run for president in 2024 The announcement came amid similar steps taken by Twitter with new owner Elon Musk looking to complete an overhaul of the social media platform. This will be the first budget cut in Facebook’s history and according to experts, it was mainly caused by the failure of the metaverse project. Apart from the job cuts, Meta has also extended their hiring freeze since March 23 in an attempt to “become a leaner organisation”. The global economy has taken a major hit after the COVID-19 pandemic and that was cited by Zuckerberg while explaining the board’s “tough decisions”.

'Sorry to those impacted': Facebook's parent company Meta fires more than 11,000 workers

<p>Mark Zuckerberg-owned Meta will be laying off employees on Wednesday morning, the Wall Street Journal (WSJ) reported.</p>

<p>The announcement was made by the CEO on Tuesday morning while addressing hundreds of executives at the company headquarters, foreshadowing large cuts.</p>

<p>Though it is uncertain how many will be asked to go, the WSJ expects the numbers to be in the thousands, making it the largest of the year to date in the tech sector.</p>

<p>Wednesday’s layoff would be the first broad reduction to occur in the&nbsp; company’s 18-year history.</p>

<p>Meta’s head of human resources Lori Goler has assured that the retrenched employees will be provided with at least four months of salary as severance, the newspaper reported citing people familiar with the meeting.</p>

<p>At the meeting, Zuckerberg took responsibility for the overstaffing, which he said was due to his optimism about the company’s growth prospects.</p>

<p>He has specifically mentioned layoffs among business and recruitment teams. The job cuts are expected to start around 6 am Eastern time on Wednesday, with the specific employees losing their jobs informed over the course of the morning.</p>

<p><strong>Watch |&nbsp;WION Business News | Meta preparing large-scale layoffs: Reports</strong></p>

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<p>Meta in September reported that more than 87,000 employees are working with it. According to WSJ, company officials have already told employees to cancel non-essential travel beginning this week.</p>

<p><strong>Also read |</strong>&nbsp;<a href="https://www.wionews.com/world/twitter-users-may-soon-have-to-pay-more-than-just-8-as-musk-deliberates-putting-platform-behind-paywall-532351">Twitter users may soon have to pay more than $8 as Musk deliberates a paywall</a></p>

<p>Last month, investors wiped $80bn off the company’s market value after it reported that profits had halved during the third quarter.</p>

<p>Meta’s stock has fallen more than 70 per cent this year on the back of disappointing earning reports in the third quarter. In February, it lost $230bn in market value, making it the biggest one-day loss in the history of a US company.</p>

<p><strong>Also read |&nbsp;</strong><a href="https://www.wionews.com/world/after-twitter-now-facebook-parent-company-meta-will-undergo-massive-layoffs-report-531724">After Twitter, now Facebook parent company Meta will undergo massive layoffs: Report</a></p>

<p>Notably, Meta is not the only tech company that has announced job cuts. Twitter Inc has laid off thousands of employees as its new boss Elon Musk tries to shore up the revenues and restructure the company.</p>

<p>Snap Inc., owner of Snapchat indicated in August that it is looking to cut around 20 per cent of staff, or more than 1,000 employees, to prepare for what it said would be an expected period of low sales growth lasting into 2023.</p>

<p>(With inputs from agencies)</p>

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Mark Zuckerberg-owned Meta will be laying off employees on Wednesday morning, the Wall Street Journal (WSJ) reported. The announcement was made by the CEO on Tuesday morning while addressing hundreds of executives at the company headquarters, foreshadowing large cuts.

Mark Zuckerberg-owned Meta will be laying off employees on Wednesday morning, the Wall Street Journal (WSJ) reported. The announcement was made by the CEO on Tuesday morning while addressing hundreds of executives at the company headquarters, foreshadowing large cuts. Though it is uncertain how many will be asked to go, the WSJ expects the numbers to be in the thousands, making it the largest of the year to date in the tech sector. Wednesday’s layoff would be the first broad reduction to occur in the company’s 18-year history. Meta’s head of human resources Lori Goler has assured that the retrenched employees will be provided with at least four months of salary as severance, the newspaper reported citing people familiar with the meeting. At the meeting, Zuckerberg took responsibility for the overstaffing, which he said was due to his optimism about the company’s growth prospects. He has specifically mentioned layoffs among business and recruitment teams. The job cuts are expected to start around 6 am Eastern time on Wednesday, with the specific employees losing their jobs informed over the course of the morning. Watch | WION Business News | Meta preparing large-scale layoffs: Reports Meta in September reported that more than 87,000 employees are working with it. According to WSJ, company officials have already told employees to cancel non-essential travel beginning this week. Also read | Twitter users may soon have to pay more than $8 as Musk deliberates a paywall Last month, investors wiped $80bn off the company’s market value after it reported that profits had halved during the third quarter. Meta’s stock has fallen more than 70 per cent this year on the back of disappointing earning reports in the third quarter. In February, it lost $230bn in market value, making it the biggest one-day loss in the history of a US company. Also read | After Twitter, now Facebook parent company Meta will undergo massive layoffs: Report Notably, Meta is not the only tech company that has announced job cuts. Twitter Inc has laid off thousands of employees as its new boss Elon Musk tries to shore up the revenues and restructure the company. Snap Inc., owner of Snapchat indicated in August that it is looking to cut around 20 per cent of staff, or more than 1,000 employees, to prepare for what it said would be an expected period of low sales growth lasting into 2023. (With inputs from agencies) WATCH WION LIVE HERE:

Meta boss Mark Zuckerberg says mass layoffs to begin from Wednesday morning

Mark Zuckerberg is set to pull off an Elon Musk. His company Meta is about to unleash its biggest round of layoffs in history. Thousands of Meta employees are set to be sacked.

Gravitas: Meta set to fire thousands of employees

<p>The launch of WhatsApp's 'communities' feature has been announced by Mark Zuckerberg. As per Meta, communities&nbsp;feature will now be accessible to all users worldwide.</p>

<p>Since its announcement earlier this year, WhatsApp has been testing the Communities feature in several regions. In essence, it functions as a collection of groups, and sending a message to one community will reach every member of every group.&nbsp;</p>

<p>WhatsApp Communities aims to unite local communities, school parents, and employers. In order to arrange group conversations on WhatsApp, users will be able to connect to numerous groups under a single umbrella. To create Communities, the business has collaborated with more than 50 organisations across 15 nations.</p>

<p><strong>How to use Communities?</strong></p>

<p>Users can access the new communities option at either the top of their chats on Android or the bottom of their chats on iOS. From there, users can either add already-existing groups or create a new Community from scratch. Users may quickly switch between accessible groups once they're in a community to acquire the information they need when they need it, and administrators can deliver crucial updates to everyone in the community.</p>

<p><strong>Purpose of Communities&nbsp;</strong></p>

<p>WhatsApp wants to improve the platform's capacity for broadcasting. It states that this will serve as a benchmark for business communications. Even with the new functionality, WhatsApp insists that it provides a high level of privacy and security. End-to-end encryption, according to WhatsApp, will protect messages and data from even the corporation itself.</p>

<p>Apart from Communities, WhatsApp also enhanced three major features.&nbsp;</p>

<p><strong>32-person video calls</strong></p>

<p>The maximum number of participants in a video call on WhatsApp is now 32. The platform will be used more frequently for organisational purposes thanks to this capability. WhatsApp will be able to compete with platforms like Zoom.</p>

<p><strong>WhatsApp Group Size increased to 1024</strong></p>

<p>WhatsApp is increasing the maximum number of users per group. The limit has increased from 512 to 1024. The larger group size will enable WhatsApp to compete with services like Telegram.</p>

<p><strong>WhatsApp Group in-Chat Polls&nbsp;</strong></p>

<p>Additionally, WhatsApp is launching a new method for conducting group polls. Polls can be a useful tool to vote on significant issues within the group, especially as the number of groups is significantly growing and even with Communities.</p>

<p><em>(with inputs from agencies )</em></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe></p>


The launch of WhatsApp's 'communities' feature has been announced by Mark Zuckerberg. As per Meta, communities feature will now be accessible to all users worldwide.

The launch of WhatsApp's 'communities' feature has been announced by Mark Zuckerberg. As per Meta, communities feature will now be accessible to all users worldwide. Since its announcement earlier this year, WhatsApp has been testing the Communities feature in several regions. In essence, it functions as a collection of groups, and sending a message to one community will reach every member of every group. WhatsApp Communities aims to unite local communities, school parents, and employers. In order to arrange group conversations on WhatsApp, users will be able to connect to numerous groups under a single umbrella. To create Communities, the business has collaborated with more than 50 organisations across 15 nations. How to use Communities? Users can access the new communities option at either the top of their chats on Android or the bottom of their chats on iOS. From there, users can either add already-existing groups or create a new Community from scratch. Users may quickly switch between accessible groups once they're in a community to acquire the information they need when they need it, and administrators can deliver crucial updates to everyone in the community. Purpose of Communities WhatsApp wants to improve the platform's capacity for broadcasting. It states that this will serve as a benchmark for business communications. Even with the new functionality, WhatsApp insists that it provides a high level of privacy and security. End-to-end encryption, according to WhatsApp, will protect messages and data from even the corporation itself. Apart from Communities, WhatsApp also enhanced three major features. 32-person video calls The maximum number of participants in a video call on WhatsApp is now 32. The platform will be used more frequently for organisational purposes thanks to this capability. WhatsApp will be able to compete with platforms like Zoom. WhatsApp Group Size increased to 1024 WhatsApp is increasing the maximum number of users per group. The limit has increased from 512 to 1024. The larger group size will enable WhatsApp to compete with services like Telegram. WhatsApp Group in-Chat Polls Additionally, WhatsApp is launching a new method for conducting group polls. Polls can be a useful tool to vote on significant issues within the group, especially as the number of groups is significantly growing and even with Communities. (with inputs from agencies )

WhatsApp launches 'communities', upgrades video calls, increases group size

Meta CEO Mark Zuckerberg has publicly slammed Apple's i-Message service calling it unsafe. What explains this statement? Is Meta trying to win over Apple's clients? Molly Gambhir reports.

Gravitas: Meta CEO publicly slams Apple's i-Message

<p><meta name="uuid" content="uuidqAM5DmQKNv1H" /><meta charset="utf-8" /></p>

<p>Facebook, rechristened as Meta, is struggling with numbers, nearly a year after the rebranding, as per a report by Wall Street Journal.</p>

<p>Horizon Worlds, a flagship product of Meta which attempted to provide a comprehensive Metaverse experience to the users, has faltered to take off.</p>

<p>According to the publication, after the launch last year, Mark Zuckerberg-owned Meta had kept an ambitious target of having 500,000 monthly active users on board. However, the current number of users stands at a rather unflattering 200,000, thereby failing to meet internal performance expectations.</p>

<p><a href="https://www.wionews.com/technology/mark-zuckerberg-loses-more-than-118-million-followers-on-facebook-heres-why-524865"><strong>Read more:&nbsp;Mark Zuckerberg 'loses' more than 118 million followers on Facebook - Here's why</strong></a></p>

<p>Consequently, the analysts at Meta have already reduced the projection to 280,000 by the end of the year. While the user numbers being low is an alarming situation, what's more distressing is that those logging in to Horizon Worlds, did not return to the platform after the first month.</p>

<p>The report states that only nine per cent of the free virtual reality online video game has been explored by at least 50 people while the majority of the Metaverse has been left relatively unexplored.</p>

<p>Notably, Horizon Worlds was Zuckerberg's USP for the platform. In the game, individuals can pick an avatar and pop into the virtual space&nbsp;to interact with one another.&nbsp;</p>

<p>To double down on his venture, Zuckerberg earlier this week launched the $1,500 Quest Pro VR which contains an advanced mobile Snapdragon computer chip. The attempt is to further drum up excitement around the product Meta has developed.&nbsp;</p>

<p><a href="https://www.wionews.com/technology/metas-new-quest-pro-headset-mixing-real-and-virtual-worlds-makes-debut-524720"><strong>Read more:&nbsp;Meta's new Quest Pro headset, mixing real and virtual worlds, makes debut</strong></a></p>

<p>Since last year, Meta's shares have gone down more than 60 per cent, losing $700 billion in market value in the process.</p>

<p>The problems have only been exacerbated in recent times for other platforms as well. As reported by WION, last week Meta issued a warning that the login information of around a million users was potentially compromised.</p>

<p><a href="https://www.wionews.com/technology/meta-warns-one-million-users-about-potential-data-leak-through-malicious-apps-523435" target="_blank"><strong>Read more: Meta warns one million users about potential data leak through malicious apps</strong></a></p>

<p>According to the official statement, the leak happened due to “malicious apps”. The applications were listed on Google Play Store and the Apple Store as games and other types of apps to trick people into downloading them and accessed the phone through the Facebook welcome page.</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>


Facebook, rechristened as Meta, is struggling with numbers, nearly a year after the rebranding, as per a report by Wall Street Journal. Horizon Worlds, a flagship product of Meta which attempted to provide a comprehensive Metaverse experience to the users, has faltered to take off.

Facebook, rechristened as Meta, is struggling with numbers, nearly a year after the rebranding, as per a report by Wall Street Journal. Horizon Worlds, a flagship product of Meta which attempted to provide a comprehensive Metaverse experience to the users, has faltered to take off. According to the publication, after the launch last year, Mark Zuckerberg-owned Meta had kept an ambitious target of having 500,000 monthly active users on board. However, the current number of users stands at a rather unflattering 200,000, thereby failing to meet internal performance expectations. Read more: Mark Zuckerberg 'loses' more than 118 million followers on Facebook - Here's why Consequently, the analysts at Meta have already reduced the projection to 280,000 by the end of the year. While the user numbers being low is an alarming situation, what's more distressing is that those logging in to Horizon Worlds, did not return to the platform after the first month. The report states that only nine per cent of the free virtual reality online video game has been explored by at least 50 people while the majority of the Metaverse has been left relatively unexplored. Notably, Horizon Worlds was Zuckerberg's USP for the platform. In the game, individuals can pick an avatar and pop into the virtual space to interact with one another. To double down on his venture, Zuckerberg earlier this week launched the $1,500 Quest Pro VR which contains an advanced mobile Snapdragon computer chip. The attempt is to further drum up excitement around the product Meta has developed. Read more: Meta's new Quest Pro headset, mixing real and virtual worlds, makes debut Since last year, Meta's shares have gone down more than 60 per cent, losing $700 billion in market value in the process. The problems have only been exacerbated in recent times for other platforms as well. As reported by WION, last week Meta issued a warning that the login information of around a million users was potentially compromised. Read more: Meta warns one million users about potential data leak through malicious apps According to the official statement, the leak happened due to “malicious apps”. The applications were listed on Google Play Store and the Apple Store as games and other types of apps to trick people into downloading them and accessed the phone through the Facebook welcome page. (With inputs from agencies) WATCH WION LIVE HERE:

Metaverse fails to take off, Horizon Worlds largely unexplored; shares tumble: Report

<p lang="EN-US" paraeid="{65ebb9f2-9781-4408-80cc-524ca4eea04a}{223}" paraid="84461239" >Meta CEO Mark Zuckerberg lost more than 118 million followers on Facebook within seconds due to a bug affecting users all around the world. Several people reported similar problems on Wednesday with their friend lists showing a significant fall without any explanation from the platform.&nbsp;</p>

<p lang="EN-US" paraeid="{f491e707-2e7c-40f1-8016-a810a5c5af54}{251}" paraid="1768586209" >Zuckerberg had 119 million followers on Facebook, but it dropped straight to 10,000.&nbsp;</p>

<p lang="EN-US" paraeid="{f491e707-2e7c-40f1-8016-a810a5c5af54}{251}" paraid="1768586209" >Also read |&nbsp;<a href="https://www.wionews.com/world/russia-ukraine-war-updates-live-russian-strike-kills-seven-at-market-in-east-ukraine-governor-524760" hreflang="en">Russia-Ukraine war LIVE | Russia 'expects' Erdogan to offer Ukraine mediation</a></p>

<p lang="EN-US" paraeid="{a6864785-ffeb-4cda-9b35-c7a1532d16bb}{126}" paraid="1661201339" >Following the complaints, Meta was quick to acknowledge the error and said that it was working on rectifying the situation. However, no explanation was given about when the error happened.&nbsp;</p>

<p lang="EN-US" paraeid="{5b3a2c77-0bdc-48a2-af7c-40cad6fd93db}{86}" paraid="1195164807" >"We're aware that some people are seeing inconsistent follower count on their Facebook profiles. We're working to get things back to normal as quickly as possible and we apologize for any inconvenience," a Meta spokesperson told PTI when asked about the problems faced by a number of users.&nbsp;</p>

<p lang="EN-US" paraeid="{5b3a2c77-0bdc-48a2-af7c-40cad6fd93db}{78}" paraid="912254273" >Prominent author Taslima Nasreen also lost thousands of Facebook followers due to the glitch.&nbsp;</p>

<p lang="EN-US" paraeid="{5b3a2c77-0bdc-48a2-af7c-40cad6fd93db}{78}" paraid="912254273" >Also read |&nbsp;<a href="https://www.wionews.com/world/watch-humanoid-robot-ai-da-addresses-house-of-lords-in-uk-524802" hreflang="en">Watch: Humanoid robot 'Ai-Da' addresses House of Lords in UK</a></p>

<p lang="EN-US" paraeid="{12826dd1-8511-49ff-b070-346cd90d8f4b}{104}" paraid="868036614" >“Facebook created a tsunami that wiped away my almost 900,000 followers and left only 9000 something on the shore. I kind of like Facebook’s comedy,” she posted on Twitter.&nbsp;</p>

<p lang="EN-US" paraeid="{12826dd1-8511-49ff-b070-346cd90d8f4b}{211}" paraid="422492173" >It has been a turbulent week for Meta as the tech giant was added to the list of “terrorists and extremists” by Russia. The decision was taken by Russia's financial monitoring agency Rosfinmonitoring which said that Meta was allowing posts that called for violence against the Russian military in Ukraine.&nbsp;</p>

<p lang="EN-US" paraeid="{165c8a61-ba66-4a4f-a6a5-23d0c8599291}{88}" paraid="1120345200" >Zuckerberg was already barred from entering Russia as part of restrictions imposed by the Kremlin on several American citizens including US Vice President Kamala Harris and CEO of LinkedIn Ryan Roslansky.&nbsp;</p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>


Meta CEO Mark Zuckerberg lost more than 118 million followers on Facebook within seconds due to a bug affecting users all around the world. Several people reported similar problems on Wednesday with their friend lists showing a significant fall without any explanation from the platform.

Meta CEO Mark Zuckerberg lost more than 118 million followers on Facebook within seconds due to a bug affecting users all around the world. Several people reported similar problems on Wednesday with their friend lists showing a significant fall without any explanation from the platform. Zuckerberg had 119 million followers on Facebook, but it dropped straight to 10,000. Also read | Russia-Ukraine war LIVE | Russia 'expects' Erdogan to offer Ukraine mediation Following the complaints, Meta was quick to acknowledge the error and said that it was working on rectifying the situation. However, no explanation was given about when the error happened. "We're aware that some people are seeing inconsistent follower count on their Facebook profiles. We're working to get things back to normal as quickly as possible and we apologize for any inconvenience," a Meta spokesperson told PTI when asked about the problems faced by a number of users. Prominent author Taslima Nasreen also lost thousands of Facebook followers due to the glitch. Also read | Watch: Humanoid robot 'Ai-Da' addresses House of Lords in UK “Facebook created a tsunami that wiped away my almost 900,000 followers and left only 9000 something on the shore. I kind of like Facebook’s comedy,” she posted on Twitter. It has been a turbulent week for Meta as the tech giant was added to the list of “terrorists and extremists” by Russia. The decision was taken by Russia's financial monitoring agency Rosfinmonitoring which said that Meta was allowing posts that called for violence against the Russian military in Ukraine. Zuckerberg was already barred from entering Russia as part of restrictions imposed by the Kremlin on several American citizens including US Vice President Kamala Harris and CEO of LinkedIn Ryan Roslansky.

Mark Zuckerberg 'loses' more than 118 million followers on Facebook - Here's why

<p lang="EN-US" paraeid="{21ff8d78-5a86-4f52-af78-56a708ed80e1}{75}" paraid="427541661" >Russia has decided to add US-based tech giant Meta to its list of “terrorists and extremists,” according to a report by the Interfax news agency. The announcement was made by Russia's financial monitoring agency – Rosfinmonitoring – as the conflict gains momentum in Ukraine.&nbsp;</p>

<p lang="EN-US" paraeid="{8b10812f-12f2-4d22-afcf-aa444867a6dc}{79}" paraid="463290189" >Russia's Prosecutor General's Office submitted a written request for this ban last week.&nbsp;</p>

<p lang="EN-US" paraeid="{8b10812f-12f2-4d22-afcf-aa444867a6dc}{79}" paraid="463290189" >Also read |&nbsp;<a href="https://www.wionews.com/world/live-russian-strikes-kill-14-in-ukraine-over-84-missiles-were-launched-524252" hreflang="en">Ukraine war LIVE | Russia adds Meta to 'terrorist &amp; extremist' list</a></p>

<p lang="EN-US" paraeid="{21ff8d78-5a86-4f52-af78-56a708ed80e1}{84}" paraid="1032284999" >Meta, the parent company of Facebook, is owned by billionaire Mark Zuckerberg and in March this year, it was found guilty of “extremist activity” in Russia by a Moscow court. The case was filed after Meta was accused of allowing posts that called for violence against the Russian military in Ukraine.&nbsp;</p>

<p lang="EN-US" paraeid="{c5a8f9ca-537e-4cc3-9f37-a209622f7f4f}{102}" paraid="1152072267" >As a result of this decision, people in Russia will not have any access to the services provided by Meta – which includes extremely popular social media platforms Instagram and Facebook. According to Insider, the ban can come into effect almost immediately depending on the government’s will.&nbsp;</p>

<p lang="EN-US" paraeid="{c5a8f9ca-537e-4cc3-9f37-a209622f7f4f}{102}" paraid="1152072267" >Also read |&nbsp;<a href="https://www.wionews.com/world/g7-to-hold-crisis-talks-on-russias-bomb-assault-on-kyiv-524408" hreflang="en">G7 to hold crisis talks on Russia's bomb assault on Kyiv</a></p>

<p lang="EN-US" paraeid="{ed75480f-ddd8-4453-a17e-7f54c724ca66}{176}" paraid="754867795" >Zuckerberg is already on the list of individuals who were barred by the Russian foreign ministry from entering the country back in April. The tech billionaire was part of a list that include US Vice President Kamala Harris, EO of LinkedIn Ryan Roslansky, and more than 900 other American citizens.&nbsp;</p>

<p lang="EN-US" paraeid="{bc552027-2aba-4666-88ea-050d257ddb62}{113}" paraid="2036645127" >In the official statement, Rosfinmonitoring said that Meta has been biased towards the western countries in the coverage of the Ukraine-Russia crisis. They said that the company is “discriminating” against Russian news outlets and have restricted user access to outlets like Sputnik and Russia Today.&nbsp;</p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>


Russia has decided to add US-based tech giant Meta to its list of “terrorists and extremists,” according to a report by the Interfax news agency. The announcement was made by Russia's financial monitoring agency – Rosfinmonitoring – as the conflict gains momentum in Ukraine.

Russia has decided to add US-based tech giant Meta to its list of “terrorists and extremists,” according to a report by the Interfax news agency. The announcement was made by Russia's financial monitoring agency – Rosfinmonitoring – as the conflict gains momentum in Ukraine. Russia's Prosecutor General's Office submitted a written request for this ban last week. Also read | Ukraine war LIVE | Russia adds Meta to 'terrorist & extremist' list Meta, the parent company of Facebook, is owned by billionaire Mark Zuckerberg and in March this year, it was found guilty of “extremist activity” in Russia by a Moscow court. The case was filed after Meta was accused of allowing posts that called for violence against the Russian military in Ukraine. As a result of this decision, people in Russia will not have any access to the services provided by Meta – which includes extremely popular social media platforms Instagram and Facebook. According to Insider, the ban can come into effect almost immediately depending on the government’s will. Also read | G7 to hold crisis talks on Russia's bomb assault on Kyiv Zuckerberg is already on the list of individuals who were barred by the Russian foreign ministry from entering the country back in April. The tech billionaire was part of a list that include US Vice President Kamala Harris, EO of LinkedIn Ryan Roslansky, and more than 900 other American citizens. In the official statement, Rosfinmonitoring said that Meta has been biased towards the western countries in the coverage of the Ukraine-Russia crisis. They said that the company is “discriminating” against Russian news outlets and have restricted user access to outlets like Sputnik and Russia Today.

Russia adds tech giant Meta to list of 'terrorist and extremist' organisations

<p>In an effort to reduce expenses during tough economic times, Facebook parent company Meta informed its staff on Thursday (Sept 29) that it would be halting hiring.</p>

<p>According to the Wall Street Journal, Mark Zuckerberg, the head of Meta, announced a plan to freeze recruiting during a weekly all-hands meeting, adding that the decision came as the social media giant planned to cut expenses by at least 10 per cent.</p>

<p><a href="https://www.wionews.com/world/top-meta-official-to-decide-if-trump-can-return-to-facebook-instagram-in-2023-519266"><strong>Also read |&nbsp;Top Meta official to decide if Trump can return to Facebook &amp; Instagram in 2023</strong></a></p>

<p>Bloomberg reported that Zuckerberg, during a weekly session, said, "I had hoped the economy would have more clearly stabilised by now, but from what we're seeing it doesn't yet seem like it has, so we want to plan somewhat conservatively."</p>

<p>As advertisers reduced spending to prepare for an impending recession, some tech companies have been forced to reduce personnel in recent months. Additionally, Zuckerberg indicated on Thursday that Meta would cut budgets for the majority of teams and that each team would have to decide how to manage headcount changes.&nbsp;</p>

<p><a href="https://www.wionews.com/world/meta-looking-to-cut-costs-by-10-per-cent-over-next-few-months-518643"><strong>Also read |&nbsp;Meta looking to cut costs by 10 per cent over next few months, plans internal rejig</strong></a></p>

<p>However, Meta had long provided growth that seemed to go upward, and this time it just recorded its first global daily user decrease. The economic downturn, which made advertisers cut their marketing budgets, and Apple's data privacy regulations, had limited scope for personalisation. In the second-quarter earnings call, the company refrained from referring to Zuckerberg's warning about a drop in headcount over the next year.&nbsp;</p>

<p>Although general hiring freezes had been acknowledged by the company in May, precise numbers had not been disclosed yet.&nbsp;</p>

<p>This year, tech companies, including Snap and e-commerce Amazon, have announced layoffs.</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>


In an effort to reduce expenses during tough economic times, Facebook parent company Meta informed its staff on Thursday (Sept 29) that it would be halting hiring.

In an effort to reduce expenses during tough economic times, Facebook parent company Meta informed its staff on Thursday (Sept 29) that it would be halting hiring. According to the Wall Street Journal, Mark Zuckerberg, the head of Meta, announced a plan to freeze recruiting during a weekly all-hands meeting, adding that the decision came as the social media giant planned to cut expenses by at least 10 per cent. Also read | Top Meta official to decide if Trump can return to Facebook & Instagram in 2023 Bloomberg reported that Zuckerberg, during a weekly session, said, "I had hoped the economy would have more clearly stabilised by now, but from what we're seeing it doesn't yet seem like it has, so we want to plan somewhat conservatively." As advertisers reduced spending to prepare for an impending recession, some tech companies have been forced to reduce personnel in recent months. Additionally, Zuckerberg indicated on Thursday that Meta would cut budgets for the majority of teams and that each team would have to decide how to manage headcount changes. Also read | Meta looking to cut costs by 10 per cent over next few months, plans internal rejig However, Meta had long provided growth that seemed to go upward, and this time it just recorded its first global daily user decrease. The economic downturn, which made advertisers cut their marketing budgets, and Apple's data privacy regulations, had limited scope for personalisation. In the second-quarter earnings call, the company refrained from referring to Zuckerberg's warning about a drop in headcount over the next year. Although general hiring freezes had been acknowledged by the company in May, precise numbers had not been disclosed yet. This year, tech companies, including Snap and e-commerce Amazon, have announced layoffs. (With inputs from agencies) WATCH WION LIVE HERE

Meta halts hiring to reduce expenses after recording its first global daily user decrease 

<p lang="EN-US" paraeid="{6327178e-9158-449f-b84f-3c5b93bdcd5a}{106}" paraid="1409295134" >Meta is looking to cut costs by almost 10 per cent by the end of 2022, Wall Street Journal reported on Wednesday. According to the report, the company is expected to announce job cuts – but it will be carried out in the form of internal department reorganisation rather than formal firings.&nbsp;</p>

<p lang="EN-US" paraeid="{6327178e-9158-449f-b84f-3c5b93bdcd5a}{106}" paraid="1409295134" >Also read |&nbsp;<a href="https://www.wionews.com/world/thousands-protesting-against-partial-mobilisation-of-civilians-detained-in-russia-518576" hreflang="en">Russia has drafted several anti-war protesters into military, reports say</a></p>

<p lang="EN-US" paraeid="{dbbd9f12-f905-48b4-b620-0b0f3b870b43}{201}" paraid="2092862804" >The news of cost cuts came just days after&nbsp;Meta CEO&nbsp;Mark Zuckerberg’s net worth dropped by a massive $71 billion in 2022, according to the Bloomberg Billionaires Index. As a result, he dropped to his lowest spot in the list since 2014 and is currently ranked 20th among all the global billionaires.&nbsp;</p>

<p lang="EN-US" paraeid="{7199ac07-8198-4ec3-8969-76124d7e483b}{120}" paraid="1218486583" >A major reason behind the loss in net worth was the $55.9 billion loss that Meta incurred after the rebranding from Facebook and the renewed focus on Metaverse and similar applications.&nbsp;</p>

<p lang="EN-US" paraeid="{7199ac07-8198-4ec3-8969-76124d7e483b}{120}" paraid="1218486583" >Also read |&nbsp;<a href="https://www.wionews.com/world/mahsa-amini-death-many-killed-in-iran-unrest-as-anti-hijab-protests-intensify-518638" hreflang="en">Mahsa Amini death: Many killed in Iran unrest as anti-hijab protests intensify</a></p>

<p lang="EN-US" paraeid="{31e98b95-815c-4056-a65c-861e6b652edc}{3}" paraid="1354865246" >When it comes to costs and expenses, the company saw a steep rise of 22 per cent in 2022 with the total figure standing at $20.4 billion. A majority of it was invested into the Metaverse and the report claims that as a result, Meta will be looking to cut costs in other departments.&nbsp;</p>

<p lang="EN-US" paraeid="{ff1c4c74-cf4f-4ff4-bef8-4bc192910e9a}{70}" paraid="738692707" >Chief product officer Chris Cox told the employees that the company is “in serious times here and the headwinds are fierce”.<br />
<br />
“We need to execute flawlessly in an environment of slower growth, where teams should not expect vast influxes of new engineers and budgets,” he added, according to WSJ.&nbsp;</p>


Meta is looking to cut costs by almost 10 per cent by the end of 2022, Wall Street Journal reported on Wednesday. According to the report, the company is expected to announce job cuts – but it will be carried out in the form of internal department reorganisation rather than formal firings.

Meta is looking to cut costs by almost 10 per cent by the end of 2022, Wall Street Journal reported on Wednesday. According to the report, the company is expected to announce job cuts – but it will be carried out in the form of internal department reorganisation rather than formal firings. Also read | Russia has drafted several anti-war protesters into military, reports say The news of cost cuts came just days after Meta CEO Mark Zuckerberg’s net worth dropped by a massive $71 billion in 2022, according to the Bloomberg Billionaires Index. As a result, he dropped to his lowest spot in the list since 2014 and is currently ranked 20th among all the global billionaires. A major reason behind the loss in net worth was the $55.9 billion loss that Meta incurred after the rebranding from Facebook and the renewed focus on Metaverse and similar applications. Also read | Mahsa Amini death: Many killed in Iran unrest as anti-hijab protests intensify When it comes to costs and expenses, the company saw a steep rise of 22 per cent in 2022 with the total figure standing at $20.4 billion. A majority of it was invested into the Metaverse and the report claims that as a result, Meta will be looking to cut costs in other departments. Chief product officer Chris Cox told the employees that the company is “in serious times here and the headwinds are fierce”. “We need to execute flawlessly in an environment of slower growth, where teams should not expect vast influxes of new engineers and budgets,” he added, according to WSJ.

Meta looking to cut costs by 10 per cent over next few months, plans internal rejig

<p>The move to rebrand Facebook into Meta and the focus on Metaverse has not worked out well for Mark Zuckerberg in the short run as his net worth dropped by a massive $71 billion in 2022, according to the Bloomberg Billionaires Index. As a result, he dropped to his lowest spot in the list since 2014 as he is currently ranked 20th among all the global billionaires, according to Bloomberg.</p>

<p>In 2020, the Meta CEO had a net worth of around $106 billion with just Amazon founder Jeff Bezos and Microsoft founder Bill Gates ahead of him. With Facebook shares racing up to $382, Zuckerberg hit his peak in September 2021 when he had a net worth of around $142 billion.</p>

<p>Also read |&nbsp;<a href="https://www.wionews.com/world/head-of-irans-morality-police-suspended-following-protests-over-death-in-custody-reports-suggest-517917" hreflang="en">Head of Iran’s morality police suspended amid protests: Reports</a></p>

<p>However, with the rebranding of his company and subsequent losses, his net worth has now fallen to $55.9 billion. In February 2022 alone, the Meta CEO lost $31 billion due to his company.</p>

<p>While the focus still remains on the Metaverse and its multiple applications, the reports showed that Facebook had no growth in monthly users prompting a steady fall in share prices.</p>

<p>Also read |&nbsp;<a href="https://www.wionews.com/south-asia/pakistan-in-talks-with-russia-regarding-import-of-oil-on-deferred-payment-reports-517950" hreflang="en">A hint to India? Pak-Russia discuss Russian oil imports on deferred payment basis, say reports</a></p>

<p>When it comes to its core market, Meta has not performed as well as before and it has been beaten by TikTok on a number of key parameters. When it comes to other competition – Amazon, Apple, Google and Netflix to name a few – Facebook has once again not performed as well as before.</p>

<p>With the majority of Zuckerburg’s wealth coming from Meta, the lull in the company’s business has indeed turned out to be a headache for him and the new index will surely be a timely warning.</p>


The move to rebrand Facebook into Meta and the focus on Metaverse has not worked out well for Mark Zuckerberg in the short run as his net worth dropped by a massive $71 billion in 2022, according to the Bloomberg Billionaires Index.

The move to rebrand Facebook into Meta and the focus on Metaverse has not worked out well for Mark Zuckerberg in the short run as his net worth dropped by a massive $71 billion in 2022, according to the Bloomberg Billionaires Index. As a result, he dropped to his lowest spot in the list since 2014 as he is currently ranked 20th among all the global billionaires, according to Bloomberg. In 2020, the Meta CEO had a net worth of around $106 billion with just Amazon founder Jeff Bezos and Microsoft founder Bill Gates ahead of him. With Facebook shares racing up to $382, Zuckerberg hit his peak in September 2021 when he had a net worth of around $142 billion. Also read | Head of Iran’s morality police suspended amid protests: Reports However, with the rebranding of his company and subsequent losses, his net worth has now fallen to $55.9 billion. In February 2022 alone, the Meta CEO lost $31 billion due to his company. While the focus still remains on the Metaverse and its multiple applications, the reports showed that Facebook had no growth in monthly users prompting a steady fall in share prices. Also read | A hint to India? Pak-Russia discuss Russian oil imports on deferred payment basis, say reports When it comes to its core market, Meta has not performed as well as before and it has been beaten by TikTok on a number of key parameters. When it comes to other competition – Amazon, Apple, Google and Netflix to name a few – Facebook has once again not performed as well as before. With the majority of Zuckerburg’s wealth coming from Meta, the lull in the company’s business has indeed turned out to be a headache for him and the new index will surely be a timely warning.

Mark Zuckerberg's net worth falls by $71 billion in last 12 months

<p>Speak to Meta’s AI chatbot if you’re concerned that artificial intelligence is becoming too intelligent. BlenderBot, a conversational AI prototype that was introduced on Friday, can communicate on almost any subject, according to Facebook’s parent company. The public is welcome to communicate with the tool and provide developers with feedback on the demo website. Buzzfeed and Vice journalists have noted that the preliminary results have been quite intriguing.</p>

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<p dir="ltr" lang="en">Good morning to everyone, especially the Facebook <a href="https://t.co/EkwTpff9OI">https://t.co/EkwTpff9OI</a> researchers who are going to have to rein in their Facebook-hating, election denying chatbot today <a href="https://t.co/wMRBTkzlyD">pic.twitter.com/wMRBTkzlyD</a></p>
— Jeff Horwitz (@JeffHorwitz) <a href="https://twitter.com/JeffHorwitz/status/1556245316596219904?ref_src=twsrc%5Etfw">August 7, 2022</a></blockquote>
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<p>When Max Woolf of BuzzFeed asked the bot about Mark Zuckerberg, the bot said, “He is a good businessman, but his business practices are not always ethical. It is funny that he has all this money and still wears the same clothes!”&nbsp;The bot also made it obvious that it doesn’t use Facebook by telling Vice’s Janus Rose that it deactivated its account after learning about the firm’s privacy scandals. “My life has been considerably better after uninstalling Facebook,” it claimed.</p>

<p>This indicates that BlenderBot has been spewing expected lies in addition to unwelcome realities about its parent company. In an interview with Wall Street Journal reporter Jeff Horwitz, it was emphasised that Donald Trump was still in office and would remain so “even after his second term expires in 2024”.&nbsp;Another jab was added at Meta, with the statement that “Facebook has a lot of bogus news on it these days”.&nbsp;Additionally, users have recorded it spouting antisemitic statements.</p>

<p>Also Read:<a href="https://www.wionews.com/photos/in-pics-trump-supporters-gather-outside-his-mar-a-lago-estate-say-fbi-raid-witch-hunt-505424">&nbsp;IN PICS | Trump supporters gather outside his Mar-a-Lago estate, say FBI raid a 'witch hunt'</a></p>

<p>Based on the behaviour of other chatbots like Microsoft’s Tay, whose comments were foreseen and the business was forced to issue an apology for its “wildly inappropriate and reprehensible words and images”.&nbsp;Tay was quickly trained by Twitter users to be a racist conspiracy theorist. Another AI system, GPT-3, has also expressed homophobic, sexist, and racial views. A chatbot created by a South Korean business to look like a 20-year-old college student had to be suspended when it used anti-LGBTQ+ and racial slurs.</p>

<p><em>(with inputs from agencies)</em></p>


Speak to Meta’s AI chatbot if you’re concerned that artificial intelligence is becoming too intelligent. BlenderBot, a conversational AI prototype that was introduced on Friday, can communicate on almost any subject, according to Facebook’s parent company.

Speak to Meta’s AI chatbot if you’re concerned that artificial intelligence is becoming too intelligent. BlenderBot, a conversational AI prototype that was introduced on Friday, can communicate on almost any subject, according to Facebook’s parent company. The public is welcome to communicate with the tool and provide developers with feedback on the demo website. Buzzfeed and Vice journalists have noted that the preliminary results have been quite intriguing. Good morning to everyone, especially the Facebook https://t.co/EkwTpff9OI researchers who are going to have to rein in their Facebook-hating, election denying chatbot today pic.twitter.com/wMRBTkzlyD — Jeff Horwitz (@JeffHorwitz) August 7, 2022 × When Max Woolf of BuzzFeed asked the bot about Mark Zuckerberg, the bot said, “He is a good businessman, but his business practices are not always ethical. It is funny that he has all this money and still wears the same clothes!” The bot also made it obvious that it doesn’t use Facebook by telling Vice’s Janus Rose that it deactivated its account after learning about the firm’s privacy scandals. “My life has been considerably better after uninstalling Facebook,” it claimed. This indicates that BlenderBot has been spewing expected lies in addition to unwelcome realities about its parent company. In an interview with Wall Street Journal reporter Jeff Horwitz, it was emphasised that Donald Trump was still in office and would remain so “even after his second term expires in 2024”. Another jab was added at Meta, with the statement that “Facebook has a lot of bogus news on it these days”. Additionally, users have recorded it spouting antisemitic statements. Also Read: IN PICS | Trump supporters gather outside his Mar-a-Lago estate, say FBI raid a 'witch hunt' Based on the behaviour of other chatbots like Microsoft’s Tay, whose comments were foreseen and the business was forced to issue an apology for its “wildly inappropriate and reprehensible words and images”. Tay was quickly trained by Twitter users to be a racist conspiracy theorist. Another AI system, GPT-3, has also expressed homophobic, sexist, and racial views. A chatbot created by a South Korean business to look like a 20-year-old college student had to be suspended when it used anti-LGBTQ+ and racial slurs. (with inputs from agencies)

Meta’s new AI chatbot says Zuckerberg’s ‘practices are not always ethical’

<p>Meta, more colloquially known as Facebook has been served a seven-day ultimatum by the Kenyan government to tackle hate speech and incitement on its platform. Failing to do so will lead to the suspension of its operations in the African country.&nbsp;</p>

<p>Reportedly, the ultimatum was served by Kenya's National Cohesion and Integration Commission (NCIC) ahead of the country's presidential elections, scheduled to take place next month.&nbsp;</p>

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<h5>"Facebook is in violation of the laws of our country. They have allowed themselves to be a vector of hate speech and incitement, misinformation and disinformation," Danvas Makori, NCIC commissioner was quoted as saying.</h5>
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<p>Makori further alleged that Meta was violating the East African country's&nbsp;constitution and laws regarding hate speech by allowing hateful content to be spread on its platform.&nbsp;</p>

<p><strong>Nigeria bans Twitter</strong></p>

<p>This is not the first time that a big tech company has been challenged in the continent of Africa. Last year, Nigeria banned Twitter after the microblogging platform&nbsp;removed&nbsp;President Muhammadu Buhari's tweet&nbsp;referring to the 1967-70 Nigerian Civil War.&nbsp;&nbsp;</p>

<p>Read More:<a href="https://www.wionews.com/world/nigeria-bans-twitter-indefinitely-after-muhammadu-buharis-account-suspension-389533"> Nigeria bans Twitter 'indefinitely' after Muhammadu Buhari's account suspension</a></p>

<p>Citing that the post violated Twitter's "abusive behaviour" policy, the Nigerian President's account was suspended for 12 hours. However, soon, Buhari took the matters in his own hands and suspended the company indefinitely.&nbsp;</p>

<p>Nigerian government claimed Twitter was banned as it was being misused for activities that were "capable of undermining Nigeria's corporate existence".</p>

<p>It was only in January earlier this year after Twitter agreed to the Nigerian government's demands that it was allowed to come out of its seven-month exile. Reportedly, Twitter agreed to set up a local office among other agreements with authorities to be allowed back in the Nigerian market.&nbsp;</p>

<p>As for Facebook, for the first time in its history, the company reported a drop in revenue. This came on the back of Facebook users declining in the first few months of the year. The company cannot afford to lose the Kenyan market where&nbsp;over 13 million users used the social media app in March 2022.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

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Meta, more colloquially known as Facebook has been served a seven-day ultimatum by the Kenyan government to tackle hate speech and incitement on its platform. Failing to do so will lead to the suspension of its operations in the African country.

Meta, more colloquially known as Facebook has been served a seven-day ultimatum by the Kenyan government to tackle hate speech and incitement on its platform. Failing to do so will lead to the suspension of its operations in the African country. Reportedly, the ultimatum was served by Kenya's National Cohesion and Integration Commission (NCIC) ahead of the country's presidential elections, scheduled to take place next month. "Facebook is in violation of the laws of our country. They have allowed themselves to be a vector of hate speech and incitement, misinformation and disinformation," Danvas Makori, NCIC commissioner was quoted as saying. × Makori further alleged that Meta was violating the East African country's constitution and laws regarding hate speech by allowing hateful content to be spread on its platform. Nigeria bans Twitter This is not the first time that a big tech company has been challenged in the continent of Africa. Last year, Nigeria banned Twitter after the microblogging platform removed President Muhammadu Buhari's tweet referring to the 1967-70 Nigerian Civil War. Read More: Nigeria bans Twitter 'indefinitely' after Muhammadu Buhari's account suspension Citing that the post violated Twitter's "abusive behaviour" policy, the Nigerian President's account was suspended for 12 hours. However, soon, Buhari took the matters in his own hands and suspended the company indefinitely. Nigerian government claimed Twitter was banned as it was being misused for activities that were "capable of undermining Nigeria's corporate existence". It was only in January earlier this year after Twitter agreed to the Nigerian government's demands that it was allowed to come out of its seven-month exile. Reportedly, Twitter agreed to set up a local office among other agreements with authorities to be allowed back in the Nigerian market. As for Facebook, for the first time in its history, the company reported a drop in revenue. This came on the back of Facebook users declining in the first few months of the year. The company cannot afford to lose the Kenyan market where over 13 million users used the social media app in March 2022. (With inputs from agencies) WATCH WION LIVE HERE:

Meta served a seven-day ultimatum by Kenya. Could be suspended if it fails to act

<p data-changed="false" data-paragraphid="3">Facebook and Instagram’s parent company, Meta, reported second-quarter sales of $28.8 billion, which was in line with expectations of $28 to $30 billion but represented a 1 per cent decline in revenue year on year. The company’s net income declined by 36 per cent&nbsp;to $6.7 billion for the second quarter, while total expenses increased by 22 per cent. Daily active users on Meta’s family apps were low, while Meta’s primary social media platform, Facebook, saw a modest 3 per cent growth in the second quarter, despite the fact that the social media giant is facing fierce competition from rivals like Tik Tok.</p>

<p data-changed="false" data-paragraphid="4">As per Meta’s latest earnings release, a weak advertising demand environment is expected for the third quarter. The CEO, Mark Zuckerberg, stated, "We seem to have entered an economic downturn that will have a broad impact on the digital advertising business." He continued, "Given the more recent revenue trajectory that we’re seeing, we’re slowing the pace of [our] investments and pushing some expenses that would have come in the next year or two off to a somewhat longer timeline."</p>

<p data-changed="false" data-paragraphid="4"><strong>Also read |&nbsp;<a href="https://www.wionews.com/technology/in-a-first-facebooks-parent-company-meta-platforms-reports-revenue-drop-501290">In a first, Facebook's parent company Meta Platforms reports revenue drop</a></strong></p>

<p data-changed="false" data-paragraphid="5">Zuckerberg said, "Many teams are going to shrink so that we can shift energy to other areas inside the company, and I want to give our leaders the ability to decide within their teams where to double down, where to double down, where to backfill attrition, and where to restructure teams while minimising [the impact] on the long-term initiatives," the Hollywood reporter reported.</p>

<p data-changed="false" data-paragraphid="5"><strong>Also read |&nbsp;<a href="https://www.wionews.com/world/we-need-to-evolve-instagram-ceo-doubles-down-criticism-over-tiktok-like-features-501104">‘We need to evolve’: Instagram CEO doubles down criticism over TikTok like features</a></strong></p>

<p data-changed="false" data-paragraphid="6">The release of Meta’s financial report coincides with a drop in ad revenue experienced by other large internet firms, such as Snap, which has caused stock values to plummet. Another instance includes Alphabet CFO Ruth Porat. The firm disclosed an earning loss on Tuesday with YouTube ad revenue reaching $7.3 billion despite a persistent pullback in adviser spending.</p>

<p data-changed="true" data-paragraphid="7">Zuckerberg reportedly instructed staff internally earlier this month to be ready to face the biggest turndown they’ve seen in history. However, during the Meta’s earning call, the reels received a mention from Zuckerberg, who noted that users’ engagement with reels on Facebook and Instagram had increased by 30 per cent, Reuters reported.</p>

<p data-changed="true" data-paragraphid="7"><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE</strong></p>

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Facebook and Instagram’s parent company, Meta, reported second-quarter sales of $28.8 billion, which was in line with expectations of $28 to $30 billion but represented a 1 per cent decline in revenue year on year.

Facebook and Instagram’s parent company, Meta, reported second-quarter sales of $28.8 billion, which was in line with expectations of $28 to $30 billion but represented a 1 per cent decline in revenue year on year. The company’s net income declined by 36 per cent to $6.7 billion for the second quarter, while total expenses increased by 22 per cent. Daily active users on Meta’s family apps were low, while Meta’s primary social media platform, Facebook, saw a modest 3 per cent growth in the second quarter, despite the fact that the social media giant is facing fierce competition from rivals like Tik Tok. As per Meta’s latest earnings release, a weak advertising demand environment is expected for the third quarter. The CEO, Mark Zuckerberg, stated, "We seem to have entered an economic downturn that will have a broad impact on the digital advertising business." He continued, "Given the more recent revenue trajectory that we’re seeing, we’re slowing the pace of [our] investments and pushing some expenses that would have come in the next year or two off to a somewhat longer timeline." Also read | In a first, Facebook's parent company Meta Platforms reports revenue drop Zuckerberg said, "Many teams are going to shrink so that we can shift energy to other areas inside the company, and I want to give our leaders the ability to decide within their teams where to double down, where to double down, where to backfill attrition, and where to restructure teams while minimising [the impact] on the long-term initiatives," the Hollywood reporter reported. Also read | ‘We need to evolve’: Instagram CEO doubles down criticism over TikTok like features The release of Meta’s financial report coincides with a drop in ad revenue experienced by other large internet firms, such as Snap, which has caused stock values to plummet. Another instance includes Alphabet CFO Ruth Porat. The firm disclosed an earning loss on Tuesday with YouTube ad revenue reaching $7.3 billion despite a persistent pullback in adviser spending. Zuckerberg reportedly instructed staff internally earlier this month to be ready to face the biggest turndown they’ve seen in history. However, during the Meta’s earning call, the reels received a mention from Zuckerberg, who noted that users’ engagement with reels on Facebook and Instagram had increased by 30 per cent, Reuters reported. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

‘We seem to have entered economic downturn:’ Meta chief Mark Zuckerberg as revenues decline

<p>Amid a general weakness in the digital ad market, Facebook’s parent company Meta Platforms has reported that its quarterly revenue dropped year-over-year for the first time ever.</p>

<p>As its profit plunged by more than a third, Meta said that its revenue missed market expectations and recently ended quarter ebbed a percent to $28.8 billion when compared to the same period a year ago.</p>

<p>Wedbush analyst Dan Ives told French news agency AFP that it was the first such slip at Meta in Facebook’s history.</p>

<p>According to IBES data from Refinitiv, experts were expecting third-quarter revenue of approximately $30.52 billion.</p>

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<p>As companies tap the power of the internet to reach consumers, Meta’s earnings further underscored an inflation-induced slowdown in the digital ad industry.</p>

<p>In terms of competition, Meta has been trying to fend off a string of challenges to its business from TikTok and Amazon.com Inc for ads.</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/world/we-need-to-evolve-instagram-ceo-doubles-down-criticism-over-tiktok-like-features-501104" hreflang="en">‘We need to evolve’: Instagram CEO doubles down criticism over TikTok like features</a></strong></p>

<p>Not only this, but Apple’s privacy changes to the mobile operating system iOS have also adversely affected Meta’s revenue.</p>

<p>Meta, which received a majority of its total revenue from ads, reported that it fell to $28.82 billion from $29.08 billion a year earlier for the second quarter ended June 30.</p>

<p>Federal regulators on Wednesday took legal action to block Facebook CEO Mark Zuckerberg from acquiring virtual reality company Within Unlimited and its fitness app Supernatural asserting that the deal would hurt competition and violate antitrust laws.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

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Amid a general weakness in the digital ad market, Facebook’s parent company Meta Platforms has reported that its quarterly revenue dropped year-over-year for the first time ever.

Amid a general weakness in the digital ad market, Facebook’s parent company Meta Platforms has reported that its quarterly revenue dropped year-over-year for the first time ever. As its profit plunged by more than a third, Meta said that its revenue missed market expectations and recently ended quarter ebbed a percent to $28.8 billion when compared to the same period a year ago. Wedbush analyst Dan Ives told French news agency AFP that it was the first such slip at Meta in Facebook’s history. According to IBES data from Refinitiv, experts were expecting third-quarter revenue of approximately $30.52 billion. × As companies tap the power of the internet to reach consumers, Meta’s earnings further underscored an inflation-induced slowdown in the digital ad industry. In terms of competition, Meta has been trying to fend off a string of challenges to its business from TikTok and Amazon.com Inc for ads. Also read | ‘We need to evolve’: Instagram CEO doubles down criticism over TikTok like features Not only this, but Apple’s privacy changes to the mobile operating system iOS have also adversely affected Meta’s revenue. Meta, which received a majority of its total revenue from ads, reported that it fell to $28.82 billion from $29.08 billion a year earlier for the second quarter ended June 30. Federal regulators on Wednesday took legal action to block Facebook CEO Mark Zuckerberg from acquiring virtual reality company Within Unlimited and its fitness app Supernatural asserting that the deal would hurt competition and violate antitrust laws. (With inputs from agencies) Watch WION's live TV here: ×

Facebook’s parent company Meta Platforms reports revenue drop for the first time ever

<p>A new report by Recode and The Verge has revealed that Facebook's 'move fast and break things' era is still haunting the social media network.</p>

<p>The report sheds light on how chief executive officer Mark Zuckerberg wanted to make Facebook akin to Windows.</p>

<p>Mobile phones and the app economy were just taking off during Facebook's formative years when the company introduced the 'move fast and break things' motto.</p>

<p>Responsible for leading the company into one of its biggest scandals, 'Cambridge Analytica', Zuckerberg’s original vision for social media brought us FarmVille and “Log in with Facebook”.</p>

<p>In the 'Cambridge Analytica' scandal, Facebook was found guilty of exposing the data of 87 million users to the political consulting firm which worked on former US President Donald Trump's campaign.</p>

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<p>To fund a political consulting firm, Steve Bannon approached conservative megadonors Rebekah and Robert Mercer which led to the creation of Cambridge Analytica.</p>

<p>During the 2016 election, Bannon reached out to Trump when he became vice president of Cambridge Analytica.</p>

<p>Previously, the Wall Street Journal reported that Cambridge Analytica CEO Alexander Nix actually reached out to WikiLeaks founder Julian Assange about the emails that were hacked from the Democratic National Committee’s servers.</p>

<p>Cambridge Analytica got its data from Facebook through researcher Aleksandr Kogan as per a former employee of the company.</p>

<p>Facebook was unaware that the third-party developer was able to exploit a loophole to gather information on not only people who used the app but all their friends.</p>

<p>Aiming to reshape the future of the internet, Meta Platforms Inc is trying to transition away from its complicated legacy as a social media company to a futuristic metaverse vision.</p>

<p>From how global democracy functions to the mental health of teenagers, both users and regulators are worried that the company's products are harming society.</p>

<p>Forcing Meta to rethink its approach to social media entirely, both Facebook and Instagram are quickly losing ground to TikTok.<br />
&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>Watch WION's live TV here:</strong></p>

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A new report by Recode and The Verge has revealed that Facebook's 'move fast and break things' era is still haunting the social media network. The report sheds light on how chief executive officer Mark Zuckerberg wanted to make Facebook akin to Windows.

A new report by Recode and The Verge has revealed that Facebook's 'move fast and break things' era is still haunting the social media network. The report sheds light on how chief executive officer Mark Zuckerberg wanted to make Facebook akin to Windows. Mobile phones and the app economy were just taking off during Facebook's formative years when the company introduced the 'move fast and break things' motto. Responsible for leading the company into one of its biggest scandals, 'Cambridge Analytica', Zuckerberg’s original vision for social media brought us FarmVille and “Log in with Facebook”. In the 'Cambridge Analytica' scandal, Facebook was found guilty of exposing the data of 87 million users to the political consulting firm which worked on former US President Donald Trump's campaign. × To fund a political consulting firm, Steve Bannon approached conservative megadonors Rebekah and Robert Mercer which led to the creation of Cambridge Analytica. During the 2016 election, Bannon reached out to Trump when he became vice president of Cambridge Analytica. Previously, the Wall Street Journal reported that Cambridge Analytica CEO Alexander Nix actually reached out to WikiLeaks founder Julian Assange about the emails that were hacked from the Democratic National Committee’s servers. Cambridge Analytica got its data from Facebook through researcher Aleksandr Kogan as per a former employee of the company. Facebook was unaware that the third-party developer was able to exploit a loophole to gather information on not only people who used the app but all their friends. Aiming to reshape the future of the internet, Meta Platforms Inc is trying to transition away from its complicated legacy as a social media company to a futuristic metaverse vision. From how global democracy functions to the mental health of teenagers, both users and regulators are worried that the company's products are harming society. Forcing Meta to rethink its approach to social media entirely, both Facebook and Instagram are quickly losing ground to TikTok. (With inputs from agencies) Watch WION's live TV here: ×

Why Facebook's 'move fast and break things' era still haunts it?

<p>As per recent court documents, Mark Zuckerberg, CEO of Facebook parent firm Meta, will take a six-hour deposition about Meta’s handling of user data in relation to the Cambridge Analytica crisis. This deposition is related to a lawsuit brought in a California court by Facebook users who were harmed by the social media site’s collaboration with Cambridge Analytica. A consultancy accused collaborated with the Donald Trump campaign team and was able to acquire the personal information of 50 million Facebook users, which was then used to create voter profiles. The business was also involved in UK’s 2016 Brexit vote, The Guardian reported.&nbsp;</p>

<p>As per the documents, additional witnesses, including platform partnership executive Konstantinos Papamiltiadis, former director of product management Eddie O’Neil, and Facebook privacy officer Rob Sherman.&nbsp;</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/world/musk-bezos-zuckerberg-among-billionaires-who-lost-14-trillion-in-first-half-of-2022-493786">Musk, Bezos, Zuckerberg among billionaires who lost $1.4 trillion in first half of 2022</a></strong></p>

<p>The lawsuit might shed new light on the Cambridge Analytica debacle, which has devasted the company’s reputation and resulted in congressional hearings where Mark Zuckerberg was interrogated about Facebook’s privacy practices.&nbsp;</p>

<p><strong>Watch |&nbsp;Gravitas: How Mark Zuckerberg lost his fortune</strong></p>

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<p>The Federal Trade Commission (FTC) imposed a record $5 billion fine on the company in the year 2019 as a result of the scandal, but detractors have advocated for the enormous organisation, the Guardian reported.&nbsp;</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/world/facebook-to-allow-upto-five-accounts-on-a-single-profile-zuckerberg-attempts-to-drum-up-user-numbers-497671">Facebook to allow upto five accounts on a single profile; Zuckerberg attempts to drum up user numbers</a></strong></p>

<p>Numerous lawsuits have been filed against Facebook in connection with the case, including four before 2018. &nbsp;The first lawsuit to feature in-depth depositions from senior Facebook executives. Plaintiffs are asking for damages of up to $5 million.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

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As per recent court documents, Mark Zuckerberg, CEO of Facebook parent firm Meta, will take a six-hour deposition about Meta’s handling of user data in relation to the Cambridge Analytica crisis.

As per recent court documents, Mark Zuckerberg, CEO of Facebook parent firm Meta, will take a six-hour deposition about Meta’s handling of user data in relation to the Cambridge Analytica crisis. This deposition is related to a lawsuit brought in a California court by Facebook users who were harmed by the social media site’s collaboration with Cambridge Analytica. A consultancy accused collaborated with the Donald Trump campaign team and was able to acquire the personal information of 50 million Facebook users, which was then used to create voter profiles. The business was also involved in UK’s 2016 Brexit vote, The Guardian reported. As per the documents, additional witnesses, including platform partnership executive Konstantinos Papamiltiadis, former director of product management Eddie O’Neil, and Facebook privacy officer Rob Sherman. Also read | Musk, Bezos, Zuckerberg among billionaires who lost $1.4 trillion in first half of 2022 The lawsuit might shed new light on the Cambridge Analytica debacle, which has devasted the company’s reputation and resulted in congressional hearings where Mark Zuckerberg was interrogated about Facebook’s privacy practices. Watch | Gravitas: How Mark Zuckerberg lost his fortune The Federal Trade Commission (FTC) imposed a record $5 billion fine on the company in the year 2019 as a result of the scandal, but detractors have advocated for the enormous organisation, the Guardian reported. Also read | Facebook to allow upto five accounts on a single profile; Zuckerberg attempts to drum up user numbers Numerous lawsuits have been filed against Facebook in connection with the case, including four before 2018. The first lawsuit to feature in-depth depositions from senior Facebook executives. Plaintiffs are asking for damages of up to $5 million. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Mark Zuckerberg to face six-hour deposition over Cambridge Analytica scandal

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