On Monday, Texas Attorney General Ken Paxton sued Meta over Facebook’s facial-recognition practices. Zuckerberg Tells Staff to Focus on Video Products as Metas Stock Plunges. That have cut into Facebook’s advertising sales and a lawsuit by the Federal Trade Commission to force the divestiture of properties Instagram and WhatsApp. (Or if youre an employee, youll hang around. The continuing rebranding of the company formerly known as Facebook comes as it attempts to re-pivot its business while grappling with mobile privacy changes by rival Apple Inc. “This is just a name change and does not impact the app experience more broadly.” “This is just a name change to better reflect the diverse content people see on their Feeds,” a company spokesperson said in an email to MarketWatch after Meta announced the name change on Twitter Inc.’s Last month, CEO Mark Zuckerberg released. Meta seems to be into changing a lot of things lately, also shortening the name of its News Feed to just Feed on Tuesday. Facebook-parent Meta began laying off workers on Wednesday as part of its latest round of job cuts announced in March, the company confirmed to ABC News. Zuckerberg Tells Staff to Focus on Video Products as Meta’s Stock Plunges 10 Naomi Nix and Kurt Wagner Februat 4:39 PM 2 min read Zuckerberg Tells Staff to Focus on. “As we head into this next chapter and continue to grow, I think it’s important to be intentional about how we work and what values we emphasize.” “At the end of last year, we put a flag in the ground with Meta as our new name and vision for the future,” Zuckerberg wrote on his Facebook profile. Zuckerberg also detailed new “company values” after the name change, such as changing “Be Open” to “Be Direct and Respect your Colleagues.” The point of the post and the reported meeting with employees was not solely to emphasize a new nickname for the workers, though. There are “Googlers” at Google parent Alphabet Inc. Of course, Meta isn’t the only tech company to refer to its employees by cute turn-of-phrases. Zuckerberg said the company needed to become more capital-efficient and said it would shift its focus to "high priority growth areas" like its AI discovery engine, ads and business platforms, as well as its Metaverse project.Hofstadter is a world-renowned American author and cognitive scientist. Meta posted its first drop in revenue in its history in July. "I got this wrong, and I take responsibility for that." "Not only has online commerce returned to prior trends, but the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I'd expected," Chief Executive Officer Mark Zuckerberg said in a message to employees. 16, 2021, and included one additional sentence that wasnt part of the January 2023 Twitter upload. The price rose modestly on the confirmation of the downsizing. The leaked video was first published by Project Veritas on Feb. Meta's shares were trading at around $100 (roughly €100) on Wednesday, compared to over $300 a year ago. Tech companies were among those whose share prices boomed during the COVID-19 pandemic, partly thanks to more people relying even more on their computers during lockdowns. US newspaper The Wall Street Journal had reported on the impending downsizing at Meta earlier in the week. The broad reduction in staff, the first in the 18-year history of the company, follows similar moves at major tech companies including Twitter, following Elon Musk's takeover, and Microsoft. Meta Platforms Inc., the owner of Facebook, Instagram and WhatsApp, announced on Wednesday that it would be laying off more than 11,000 people in what CEO Mark Zuckerberg described as "the most difficult changes we've made in Meta's history."
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