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Mark Zuckerberg’s Meta rehires staff after cutting over 20,000 jobs

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Meta, the parent company of Facebook and Instagram, has reportedly rehired a significant number of employees who were previously laid off as part of a cost-cutting initiative led by CEO Mark Zuckerberg.

The move comes as Meta experiences a resurgence in its financial performance and aims to bolster its workforce in specific technical and engineering roles.

According to reporting by Insider citing sources familiar with the company’s internal developments, Meta has quietly begun to bring back employees who were let go during the extensive rounds of layoffs over the past year.

While Meta had adopted a hiring freeze as part of Zuckerberg’s “year of efficiency,” recent positive developments in the company’s financial outlook have prompted targeted hiring efforts.

The positions being filled are primarily in the engineering and technical domains. However, the exact number of rehires has not been officially disclosed by Meta.

Despite the rehiring efforts, Meta’s careers website continues to display numerous job openings, particularly in the engineering sector, across various locations.

This indicates that the company is actively seeking to expand its workforce, despite the austerity measures undertaken by Zuckerberg.

Former employees who were impacted by the layoffs reportedly have the opportunity to reapply for positions at Meta through an “alumni portal.”

The company appears to be focusing on rehiring experienced engineers who have demonstrated strong performance records during their tenure.

Insider reports suggest that some of the rehired employees are accepting roles with lower seniority and reduced compensation compared to their previous positions.

Meta is reportedly seeking candidates with substantial career experience as it navigates its limited hiring cycle.

During Meta’s recent earnings call on July 26, Zuckerberg hinted at the company’s hiring plans.

He mentioned that the company would continue to operate with a lean approach and anticipated relatively low growth in headcount.

However, he acknowledged that some hiring was necessary to address the skills gap left by the previous round of layoffs.

He also indicated that much of this hiring activity would extend into the year 2024.

Meta’s recent success is evident in its stock performance, which has surged by more than 145% since the beginning of the year, reaching nearly $306 per share.

The company’s strong financial results and Zuckerberg’s strategic cost-cutting initiatives have contributed to this remarkable growth.

The launch of Threads, a text-based social media app designed to rival other platforms like Twitter (now known as X), has also generated significant attention.

Threads garnered over 100 million downloads shortly after its debut, although a portion of its user base has since diminished.

Despite its financial achievements, Meta’s Reality Labs division reportedly incurred losses exceeding $21 billion due to substantial investments in metaverse technology development.

As Meta reshapes its workforce and capitalizes on its recent achievements, the company continues to make waves in the tech industry, balancing financial growth with strategic innovation.

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Hegseth shared sensitive strike details via Signal texts

Hegseth disclosed sensitive military strike details on Signal before attacks on Houthi militants, raising concerns over classified information leaks.

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Hegseth disclosed sensitive military strike details on Signal before attacks on Houthi militants, raising concerns over classified information leaks.

In Short

Defense Secretary Pete Hegseth revealed military strike details against Houthi militants in Yemen via group chat, insisting the information wasn’t classified.

This has raised concerns among lawmakers about the sensitivity of shared information and potential risks to U.S. troops.

Defense Secretary Pete Hegseth disclosed military strike details against Houthi militants via a group chat before the operation in Yemen.

Texts published by Atlantic magazine revealed specific timings and types of weaponry set to be used in the attack.

Hegseth confirmed sharing updates with Trump officials but claimed the information was not classified. He insisted he merely provided mission updates without revealing secret details typically guarded by the Pentagon.

The texts indicated that the weather was suitable for the operation and confirmed when the first bombs would be dropped.

‘Significant figure’

National security adviser Mike Waltz later reported that the strike had successfully targeted a significant Houthi figure.

Republican lawmakers expressed concern over the sensitivity of information shared, questioning whether it required classification.

Former officials stated that military targeting plans are typically classified to prevent adversaries from gaining insight into U.S. operations.

The White House defended the authenticity of the texts, insisting no classified material was disclosed.

Concerns were raised regarding the potential dangers posed to U.S. troops if sensitive strike details were intercepted.

The Pentagon recently warned military personnel about vulnerabilities in using the Signal app for sharing classified information.

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BYD surpasses Tesla with $107 billion in revenue

BYD surpasses Tesla with $107 billion in annual sales, leading EV market and unveiling groundbreaking battery technology.

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BYD surpasses Tesla with $107 billion in annual sales, leading EV market and unveiling groundbreaking battery technology.

In Short

BYD’s annual revenue of 777 billion yuan for 2024 surpasses Tesla’s, driven by strong hybrid vehicle sales. The company has introduced groundbreaking battery technology, potentially revolutionising electric vehicle charging and positioning itself as a leader in the automotive market.

Chinese automaker BYD has reported annual revenue of 777 billion yuan, equivalent to $107 billion for 2024. This achievement surpasses that of U.S. competitor Tesla, which reported annual revenue of $97.7 billion.

BYD’s revenue increase of 29% from the previous year is attributed to strong sales of its hybrid vehicles.

Wang Chuanfu, BYD’s chairman, commented on the company’s swift growth, highlighting its status as the first automaker to roll out 10 million new energy vehicles by November.

He noted that BYD is now a leader in batteries, electronics, and new energy vehicles. This marks a significant shift in the global market, challenging established foreign brands.

In a recent announcement, BYD introduced a new battery technology claiming to enable electric vehicles to charge almost as fast as refuelling a petrol car.

The company’s Super e-Platform is reported to allow vehicles to achieve approximately 249 miles of range with just five minutes of charging.

Analysts have described BYD’s new battery platform as groundbreaking, suggesting that it could significantly alter consumer behaviour regarding electric vehicle ownership.

As competition in the electric vehicle sector intensifies, BYD’s advancements position it strongly against Tesla and other rivals in the industry.

The developments signal an important moment in the evolution of electric vehicles, with potential implications for the future of automotive technology.

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US, Ukraine announce Black Sea truce amid conditions

US and Ukraine announce Black Sea truce, contingent on Kremlin’s sanctions relief conditions.

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US and Ukraine announce Black Sea truce, contingent on Kremlin’s sanctions relief conditions.

In Short

The US announced a ceasefire agreement between Russia and Ukraine in the Black Sea, contingent on Russia lifting certain sanctions.

Both sides have committed to observing the truce, yet achieving a complete ceasefire remains uncertain, with potential future concessions from Russia.

The United States announced that Russia and Ukraine have reached a ceasefire agreement in the Black Sea, conditioned on the removal of specific sanctions by the Kremlin.

The agreement emerged from three days of technical talks in Saudi Arabia, focusing on ensuring safe navigation in the Black Sea and preventing military use of commercial shipping. The US pledged assistance in restoring Russian access to global agricultural markets and reducing maritime insurance costs.

President Donald Trump noted that conditions from the Kremlin would be considered, particularly regarding sanctions on banks involved in agricultural exports. The truce would take effect upon lifting restrictions on the Russian Agricultural Bank and others, tying them to the SWIFT international payment system.

Ukrainian forces

Ukrainian President Volodymyr Zelenskiy announced an immediate observance of the truce by Ukrainian forces. The two sides also agreed on mechanisms to enforce a ban on attacks against energy infrastructure, effective for 30 days.

While the talks advanced some agreements, achieving a full ceasefire remains challenging, as Russia may seek to extract further concessions from the US.

Ukrainian Defense Minister Rustem Umerov expressed confidence in US support for compliance with the agreements. However, full ceasefire timelines proposed by the Trump administration appear overly ambitious to some officials.

Zelenskiy confirmed Ukraine’s commitment to a full ceasefire, highlighting the contrast between Ukraine’s intentions and Russia’s position.

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