Connect with us

Tech

Meta to start ‘new round’ of firing employees

Published

on

The parent company of widely used social media platforms — Facebook, Instagram, and WhatsApp — Meta is eyeing to initiate a new drive of firing employees this Wednesday after firing 11,000 people in November last year, according to the report published by Daily Mail.

The employees which are likely to be the target of the firing campaign are from the communications and marketing teams.

The development comes as the removal of people from the top cadres can be seen when vice president Americas Nada Stirratt left the post on Monday.

Marne Levine also resigned from the post of Chief Business Officer (CBO) last month but would stay until the summer.

Her decision of stepping down as CBO sent shock waves through the company as she had been in leadership roles over her career spanning 13 years in Meta.

Meta has faced immense competition from TikTok as the company’s growth has been slowed over the last several months and the budgets withdrawn by advertisers.

The advertisers have refrained from opting for Meta as Facebook has witnessed a significant drop in users in its lifetime last year due to the tough time from its competitors.

Mark Zuckerberg, CEO, founder and Chairman of Meta regarded this year as “a year of efficiency” as the company is trying to mitigate its costs including a pull-back from the NFT offering.

Some of Meta’s innovations have proved to be less successful however, its other innovations have caused an 18% uptick in its stock market shares.

Zuckerberg in a statement issued in November last year had announced laying off 13% of the firm’s staff, which is a staggering 11,000 people. 

Taking responsibility CEO Meta had taken the responsibility for things not going well in the company saying that he “got this wrong”.

Apologising to the axed employees, he had said that the layoffs were the “last resort” to save the company. He had also said that most of the recruiting team had been fired as the company was freezing the hiring process.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Moon train operations are planned by NASA.

Published

on

By

The goal is to construct the first lunar train system, which will enable safe, independent, and effective cargo transportation on the moon, according to robotics specialist Ethan Schaler of NASA’s Jet Propulsion Laboratory in Pasadena, California.

He went on, “The day-to-day functioning of a sustainable lunar base in the 2030s will depend heavily on a robust, long-lasting robotic transport system.”

The Flexible Levitation on a Track, or FLOAT, is the name of the proposed lunar rail system. According to NASA, the establishment of a railway system on the moon is “critical to the daily operations.”

According to the space agency, the primary objective of FLOAT is to offer transportation services in regions of the moon where astronauts are engaged in activities. To do this, cargoes of lunar soil and other materials will need to be transported to various regions of the moon.

Each robot will be able to transport cargo of various sizes and shapes at a pace of roughly 1 mph (1.61 km/h), according to Dr. Schaler.

Notably, NASA also declared new initiatives last month to create and test new vehicle models intended for moon exploration.

Continue Reading

Business

Pakistan’s lunar mission ‘ICUBE-Q’ reaches the moon orbit.

Published

on

By

Pakistan’s lunar mission (ICUBE-Q) entered orbit around the moon on Wednesday.

Pakistan’s historic lunar mission (ICUBE-Q) launched from Hainan, China, on Friday aboard China’s Chang’E6 spacecraft.

According to the IST, the satellite ICUBE-Q was planned and developed in partnership with China’s Shanghai University SJTU and Pakistan’s national space agency SUPARCO.

The ICUBE-Q orbiter is equipped with two optical cameras to image the lunar surface. ICUBE-Q has now been integrated into the Chang’e6 mission after successfully qualifying and testing it.

Chang’e6 is the sixth lunar exploration mission launched by China.

The launch event was streamed live on the IST website and social media platforms. Chang’6, China’s Lunar Mission, will land on the Moon’s far side to collect surface samples before returning to Earth for further research.

Continue Reading

Education

The establishment of IT labs in Islamabad’s educational establishments

Published

on

By

SIFC was established to improve the ease of doing business for potential investors through a “Whole of Government”Approach”—achieving optimal horizontal-vertical synergy and facilitation by the Pakistan Army—and to attract investments from friendly countries in selected sectors through an empowered organisation that serves as a “single-window” platform for facilitation.

The children will learn the newest skills in these state-of-the-art IT labs, expanding their employment prospects.

These IT laboratories will be constructed in sixteen degree colleges spread throughout various parts of Islamabad.

Students will take six-month courses in artificial intelligence (AI), game development, data science, and block chain in these IT labs.

Approximately 1,000 students will have access to courses in the first phase, which is being implemented in response to market demand.

The National Vocational and Technical Training Commission has worked with esteemed universities such as NUST, National Skills University, COMSATS, and NUML to produce these courses.

The second week of this month will mark the start of these classes. For these courses, about 3,600 students have signed up.

Continue Reading

Trending