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Facebook and Instagram parent company Meta is reportedly planning to conduct multiple rounds of layoffs this spring on the same scale as its massive round of cuts late last year, following major layoffs this year at tech companies, banks and manufacturers, including General Motors, Twitter, Citigroup and Yahoo.
Meta’s cuts could be as large as its
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Meta on Friday said it is working on a new social media platform for sharing “text updates” reportedly designed to compete directly with Twitter, which has been hit by various operational issues and controversies since its takeover by billionaire Elon Musk.
Meta’s Twitter competitor will reportedly leverage data from Instagram.
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Twitter is nearing profitability, its billionaire owner and CEO Elon Musk claimed in a Tuesday interview, sharing further details on his lofty long-term aspirations for his social media company and rekindling his hopes for a so-called superapp.
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Twitter’s rollout of its paid verification service in Europe has been carried out without consulting the Irish Data Protection Commission, the social platform’s primary regulator in the European Union claimed on Tuesday, a move that could cause more regulatory headaches for the company.
Twitter’s top privacy regulator in the EU said there has been a “breakdown of communication”
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Banking giant Citigroup is cutting hundreds of employees in the firm’s latest round of cuts in the past four months, Bloomberg reported Thursday—making it the latest U.S. company to lay off staff, following major cuts this week at Thoughtworks, General Motors, Waymo, Twitter, Palantir and Cerebral.
Citigroup’s cuts are expected to affect less than 1% of
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Search and display advertising aren’t the only parts of the marketing landscape that have changed over the past three years. As various social platforms have waxed and waned and mechanics and dynamics have shifted, brands are making new choices about where to invest and what to expect from those investments.
“Facebook and Instagram [Reels] are still some of the