Facebook’s parent company, Meta, is reportedly preparing to cut thousands of jobs after $80bn (£69bn) was wiped off itsmarket value last month amid the global economic downturn....
NEWSFLASH
Facebook’s parent company, Meta, is reportedly preparing to cut thousands of jobs after $80bn (£69bn) was wiped off itsmarket value last month amid the global economic downturn.
This is going to affect thousands of Meta’s 87,000 employees globally.
Meta was last month valued at $270bn down from over$1tn a year earlier. The company’s focus would be on the artificial intelligence powering recommendations for Instagram Reels, advertising and its metaverse exploration.
The potential job cuts come just days after Twitter slashed nearly half of its workforce following the takeover of the company by the billionaire Elon Musk.
Brexit, Covid, war, climate disasters, a tanking economy, political instability, global insecurity, a sense of impending doom. There’s a single word for this, and it has just become Collins Dictionary’s word of the year: permacrisis. The word is defined as ‘an extended period of instability and insecurity’, which some may argue is an acc rate summary of the past few years. Collins said it chose the word as it sums up quite succinctly how truly awful 2022 has been for so many people.
Permacrisis tops a list of 10 words, six of them new entries in the dictionary, which represent 2022.
Gigi Hadid announced she’s quitting Twitter after Elon Musk’s takeover, cal ing the social media site a ‘cesspool of hate and bigotry.’
The 27-year-old supermodel announced on Instagram that she deactivated her Twitter account on Friday amid the mass layoffs, including the human rights team.
