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Meta is reportedly preparing to slash thousands of jobs

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2 years ago

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Facebook’s parent company, Meta is reportedly preparing to slash thousands of jobs as the company struggles with declining advertising revenue

The layoffs are expected to be announced as soon as Wednesday.

Meta has more than 87,000 employees, as company officials advise their staff to cancel all nonessential travel.

Globally, the tech sector is struggling.

The cuts come just days after Twitter boss Elon Musk revealed his plans to halve the workforce at his newly-purchased company.

Payment services company Stripe has also confirmed it will lay off 14 per cent of its headcount, which is around 1,000 people.

Shares in Meta fell by more than a fifth back on October 27 when the company missed its quarterly earnings expectations.

At the time, CEO Mark Zuckerberg said his company is “approaching 2023 with a focus on prioritisation and efficiency that will help navigate the current environment and emerge even stronger”.

“While we face near-term challenges on revenue, the fundamentals are there for a return to stronger revenue growth.”

“We’re approaching 2023 with a focus on prioritisation and efficiency that will help us navigate the current environment and emerge an even stronger company.”

MARK ZUCKERBERG, CEO

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William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Niche accountants proving essential to e-commerce success

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1 day ago

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October 9, 2024

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Expert explores the key benefits of partnering with accountants who specialise in niche industries.

In today’s fast-paced digital world, having an accountant who understands the intricacies of e-commerce can make all the difference in your business’s success.

Specialist accountants understand the specific needs of e-commerce businesses, helping to maximise tax savings, streamline operations, and improve financial health.

Niche accountants can identify opportunities to scale, optimise profit margins, and implement strategies that align with your business goals, ultimately drive growth.

Chris Rivera, Founder of The Ecommerce Accountants, joins to share his key insights into the industry.

#featured

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Money

Amazon’s 2024 Prime Day expected to make huge impact on tech sector sales

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2 days ago

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October 9, 2024

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Market experts believe Amazon’s upcoming event will drive a surge in sales, benefiting Amazon’s stock and boosting consumer tech companies that sell through its platform.

Experts predict that a short-term rally in retail and tech stocks could be seen as revenue spikes.

Founder/CEO of Unearthing Opportunities, and Board Advisor to Power Hero, Bradley A Gastwirth joins to unpack the latest market moves. #featured #trending

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Money

Financial stress deemed a leading cause of relationship breakdowns

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3 days ago

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October 8, 2024

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Expert insights on preventing financial conflicts and keeping relationships thriving

Investment Insights is an informative and inspiring interview-style show that dives into the world of money management and wealth creation, making complex financial concepts accessible to all.

Hosted by the Founder of The Investor’s Way, Andrew Woodward.

In this episode, Andrew is joined by Dee Tozer, Couples Master Coach.

#investment insights

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