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Antigone Davis, Meta VP and global head of safety, joins 'Squawk Box' to discuss the company's new Instagram campaign and safety features to fight online sextortion scams, what the new safety features entail, and more.
CNBC's Andrew Ross Sorkin reports on the latest news.
Meta has reportedly fired around two dozen staffers for misusing their meal credits. The firing, as reported Wednesday (Oct. 16) by the Financial Times (FT), comes amid a wider series of layoffs at Meta.
Facebook and Instagram owner reportedly dismisses about 24 workers for abusing $25 meal credit system
Meta Platforms Inc (NASDAQ:META, ETR:FB2A, SWX:FB) is laying off employees across its units, including Instagram, WhatsApp, and Reality Labs, as part of its ongoing effort to streamline operations, according to an exclusive in the tech magazine The Verge. The exact number of job cuts is unclear, though the layoffs are reported to be small.
Meta is laying off employees across units including Instagram, WhatsApp and Reality Labs, the Verge reported on Wednesday, citing people familiar with the matter.
Meta reorganized some of its major units, cutting roles at Instagram, Reality Labs, and WhatsApp. A Meta spokesperson said the company was also moving some teams to different locations.
Multiple teams at Meta were hit by layoffs on Wednesday, the company confirmed in a statement to TechCrunch, noting these changes were made to reallocate resources within the company. The layoffs appear to have hit employees working on Threads, recruiting, legal operations, and design, among other teams, according to social media posts announcing the layoffs seen by TechCrunch.
Shares of Meta Platforms, Spotify, and Netflix are trading at hefty prices.
The company is scheduled to report quarterly financial results that could have huge implications for stock market investors.
Here are AI stocks to watch in the stock market this month.