Meta to cut 5% of staff, focusing on "low performers," while boosting AI investments. Restructuring continues as 2023's "Year of Efficiency" impacts thousands of roles.
Meta Platforms plans to cut about 5% of its workforce, targeting "lowest performers," while hiring for affected roles later this year, a spokesperson said Tuesday. CEO Mark Zuckerberg hinted at further job cuts to improve performance management.
The company, with over 72,000 employees as of September 30, has invested heavily in AI technology, contributing to higher expenses this year. In 2022, Meta began restructuring efforts, cutting 11,000 jobs, and declared 2023 the "Year of Efficiency," eliminating another 10,000 roles.
Recently, Meta ended its U.S. fact-checking program and eased restrictions on divisive topics like immigration and gender identity, reportedly responding to conservative criticism ahead of Donald Trump's 2024 presidential bid.
Türkiye has extended condolences to the families of those killed in severe flooding in the U.S. state of Texas....
Israeli Prime Minister Benjamin Netanyahu has confirmed that a negotiating team will travel to Qatar for talks on a Gaza ceasefire proposal, despite r...
The death toll from flash floods in Texas has risen to at least 32, including 14 children, officials said on Saturday....
Posting on X on Saturday evening, Musk wrote: “By a factor of 2 to 1, you want a new political party and you shall have it! Today, the America Party...
Iran’s Supreme Leader Ayatollah Ali Khamanei appeared in public for the first time since the recent conflict with Israel, attending Ashura commemora...
The European Commission has warned Meta that it may face daily fines starting 27 June if its modified pay-or-consent advertising model fails to meet EU antitrust requirements under the Digital Markets Act.
Meta has snapped up three star researchers from OpenAI's Zurich lab, escalating the fierce battle for top Artificial Intelligence talent as tech giants race to dominate the next era of artificial intelligence.
Meta has teamed up with Oakley to release AI-powered smart glasses, expanding its push into wearable tech after the success of Ray-Ban Meta glasses. The social media company is expanding its partnership with Oakley and Ray-Ban-parent EssilorLuxottica.
OpenAI CEO Sam Altman has alleged that Meta Platforms offered signing bonuses as high as $100 million to OpenAI employees in an attempt to recruit top talent, underscoring the intensifying competition among tech firms for artificial intelligence expertise.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
Italy plans to grant approximately 500,000 work visas to non-EU nationals between 2026 and 2028, as announced in a cabinet statement. The initiative aims to address labor shortages by expanding legal immigration pathways
Following a deadly glacier collapse in Blatten, near the Swiss Alpine village of Kandersteg, the town is on high alert as melting permafrost and shifting rock threaten another potential disaster after it was buried a month ago.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Microsoft is closing its direct operations in Pakistan after 25 years, shifting to a partner-led model to serve the market.
The European Union will drastically reduce imports of Ukrainian wheat and sugar, by up to 80%—to protect its farmers, a move expected to shift Ukraine's exports toward Asia and Africa.
The Bank of England has launched a public consultation on future banknote designs.
Unexpected weakness in Germany's manufacturing orders in May signals ongoing uncertainty in industrial demand, despite a yearly rise and sector-specific gains.
Oil futures fell on Friday after Iran reaffirmed its commitment to nuclear non-proliferation and amid expectations that major producers are set to agree to raise their output this weekend.
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