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Meta’s hiring freeze a result of economic slowdown

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Meta’s hiring freeze is the latest indication that even tech giants are feeling the pinch of the struggling economy

META’S HIRING FREEZE | Meta’s CEO Mark Zuckerberg has told employees the company is going on a “hiring freeze.”

He says there might also be more layoffs in the future and pointed the blame at the global economy and Apple.

Meta’s revenue has been taking a hit because of the global economic slowdown, and Apple’s recent change to its ad tracking policies hasn’t helped matters either.

Mark Zuckerberg

As a result, Meta’s stock price has plunged more than 50% this year.

In May, Zuckerberg warned that Meta might have to make some “tough choices” in the form of layoffs.

But by June, he sounded more optimistic, saying that Meta was “well-positioned” to weather the economic storm.

Now it looks like those tough choices are finally being made.

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Leaders

AI and data sovereignty set to lead business innovations in 2025

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As businesses embrace cutting-edge tech, challenges like data sovereignty and AI are taking centre stage.

 

Over the past six months, the AI industry has seen significant advancements, with competing models such as Meta’s Luma and Google’s Gemini entering the market.

However, these developments come with a reality check. Building large language models (LLMs) requires substantial computing power and time, making immediate returns on investment unlikely.

One promising innovation is agentic AI, a step beyond generative AI, which enables proactive, automated solutions.

For instance, this technology could stabilise IT systems autonomously, diagnosing and resolving issues without human intervention.

Data sovereignty has also emerged as a key focus, with increasing emphasis on keeping data within national borders to comply with local laws. This has driven the adoption of sovereign clouds and private data centres, ensuring secure and localised data processing for AI development.

Deepak Ajmani, Vice President of ANZ & APAC Emerging Markets at Confluent, joins to discuss the evolving business landscape.

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Shows

Copilot redefines the modern workday

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Unlocking efficiency and customer success with AI-powered tools

The Tech Edge is a captivating business IT talk show delving into the latest industry trends and their significance in today’s landscape.

In this episode, Mike delves into the transformative power of Microsoft 365 Co-Pilot with Laura Morales, Customer Success Manager at AvePoint.

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Organisations overcome challenges in AI implementation

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Key lessons and tips for seamless Copilot adoption

In this episode, Kate Faarland, the Senior Vice President of Data and AI Programs at AvePoint, discusses the importance of AvePoint’s data and AI program, internal challenges with implementing CoPilot, and the organisation’s learnings from rolling out CoPilot for their workforce.

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