The Meta Mess
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After the news of Meta laying off thousands of employees and freezing the hiring process until the first quarter of next year, the social media giant will be called for a meeting with justice chief of the European Union, Didier Reynders in Dublin .?
The meeting will focus on decisions to fire people engaged in discussion with the commission regarding new regulations introduced in Brussels.?
But is Meta stuck in only this matter right now? Well no, the social media giant has been in a mess from all sides.
Russia's justice ministry has added Meta Platforms to its register of extremist organisations recently. This has a lot to do with Meta’s support for Ukraine and tolerating ‘Russophobia’, a term used for strong dislike towards Russia. Earlier this year, Facebook and Instagram were already added to this list.
Amidst all this mess, Meta’s chief executive officer, Mark Zuckerberg was rumoured to be leaving the organisation by the end of next year, earlier this week. But later, the reports were denied by Meta’s spokesperson, Andy Stone.
The company also posted another quarterly revenue decline as investors have begun to lose faith in its loss-making metaverse dream, according to reports.
On the other hand, Meta has also pressed the pause button to its hardware product’s plan as a part of its ‘cost-cutting’, including Portal and two smartwatches which were yet to be released.
To top it all, earlier in November the European Union drew up charges to fine Meta over its use of customer data and the tying of its classified advertisements service to its social network.?
With recession and inflation hitting all tech giants, how the parent of Facebook keeps its boat sailing will be closely watched in the days to come.
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