Meta Begins Another Round of Layoffs that Would Impact 6,000 More Employees

Facebook parent Meta has embarked on another round of layoffs that could affect thousands more amid the company’s ‘Year of Efficiency.’  Meta Platforms (NASDAQ: META) is conducting yet another round of layoffs for the third time in less than three months. The Facebook parent has already cut more than 20,000 jobs since November, with the … Read more

Shutterstock Acquires Giphy from Meta at Fraction of Price

Shutterstock will acquire Giphy from Meta for $53 million in cash, complying with the UK regulator’s order to divest the animated-images platform due to competition concerns. Shutterstock, an American provider of stock photography, footage, music, and editing tools, has announced the acquisition of Giphy Inc, the popular animated image platform owned by Meta Platforms Inc. … Read more

EU Slaps $1.3B Fine on Meta for Violating GDPR EU User Data Protection Laws

On Monday, the EU imposed a record $1.3 billion fine on social media giant Meta for transferring EU user data to the US.  Meta Platforms Inc (NASDAQ: META) recently incurred a record 1.2 billion euros ($1.3 billion) fine from the European Union (EU) for privacy violations. European privacy regulators alleged that the Facebook parent unlawfully transferred data from … Read more

Tech Earnings Dominate Second Week of Q1 Reports with Amazon, Microsoft, Meta & Alphabet Leading Charge

In this week’s Q1 tech earnings reports, investors look for signs of staying power amid a recession-threatened economy.  Tech earnings will make up a significant portion of corporate Q1 earnings this week, in the second week of quarterly reports. Investors will be paying close attention to Amazon (NASDAQ: AMZN), Microsoft (NASDAQ: MSFT), and Alphabet (NASDAQ: … Read more

Meta Faces Wide Criticism over Plans to Allow Minors into Metaverse

According to the advocates, Meta will expose teenagers and young adults to harassment and privacy violations. Social media giant Meta has received a huge backlash following its recent Metaverse announcement. While its metaverse app Horizon Worlds currently serves users of 18 years and above, the platform recently revealed plans to make room for users aged … Read more