Money

Meta is reportedly preparing to slash thousands of jobs

Published

2 years ago

November 7, 2022

William Howard

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 Howard

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.

Money

Warner Brothers & Discovery considers splitting up to boost stock value

Published

1 week ago

July 19, 2024

ticker NEWS

Warner Bros Discovery is considering a strategic breakup to enhance its stock performance, according to a Financial Times report.

The potential move aims to unlock value by separating its media assets from its reality TV and lifestyle businesses.

This decision follows pressure from investors to improve stock performance, amidst challenges in the media industry #featured #trending

Money

Investors worldwide grow increasingly optimistic about Trump winning the election

Published

1 week ago

July 18, 2024

ticker NEWS

Investors are increasingly optimistic about Donald Trump’s potential re-election, prompting a resurgence in the so-called ‘Trump trade’.

Market participants are closely monitoring Trump’s political strategies and public sentiment, influencing their investment decisions.

Kyle Rodda from Captial.com joins to discuss all the latest.

Money

Netflix expands use of ads despite slow subscriber growth

Published

1 week ago

July 18, 2024

ticker NEWS

Netflix is intensifying its efforts to introduce an ad-supported tier amidst a plateau in subscriber growth.

The streaming giant hopes to attract new users and boost revenue by offering a cheaper alternative that includes advertisements.

This move marks a significant shift from its traditional ad-free model, reflecting Netflix’s response to competitive pressures and evolving consumer preferences.