Layoff Rumors And Metaverse Cuts Push Meta Shares Higher—Details

The Facebook parent company announced it will let go of approx. 13% of its current workforce in the first mass layoff in the company’s history. The Facebook parent company Meta announced that about 13% of its current workforce has been cut in the first mass layoff in the company’s history. In a letter to his employees, Meta CEO Mark Zuckerberg announced the layoffs and also reiterated that the hiring freeze, which began earlier this year, will be extended into the first fiscal quarter of next year. According to the statement published through Meta’s newsroom, the layoffs terminated 11,000....

Facebook’s parent company Meta has announced today that the firm is cutting down 11,000 workers, in what could be the biggest layoff in the US this year. Meta Fires 11,000 Employees, Zuckerberg Describes Change As “Most Difficult” In Company History Last week, reports surfaced that the megacompany Meta is planning to sack a large number […]

Meta, the metaverse-based platform, has announced the launch of a new wallet directed to support value interaction in the metaverse. Meta Pay, a rebrand of the former Facebook Pay service, will keep fulfilling the same functions that Facebook Pay did in the past, but will be developed as a universal way of paying for goods and services using digital identities in the metaverse. Facebook Pay Rebrands to Meta Pay Meta is trying to solve the problem of transaction and value interactions in the metaverse. The company announced the launch of a new digital wallet that will support the....

Metaverse has now traversed the mainstream. On May 9, Meta Platforms Inc. will be opening its first-ever physical metaverse-themed retail store in the San Francisco Bay Area. Samsung has opened up their first physical Meta store – and Meta is following through.  Suggested Reading | Samsung Throws In $25 Million In South Korean Startup DoubleMe […]

Meta’s VP of Metaverse, Vishal Shah, acknowledged that Horizon Worlds, the flagship app that Meta uses to show the potential of its metaverse, still has many problems affecting its usability. In a recent memo, Shah explains that even Meta’s employees are not using the app so much, and hints at the establishment of time quotas for the presence of employees on the platform. Horizon Worlds Buggy, Meta’s Executive Recognizes Meta’s metaverse push is facing some trouble, with executives now criticizing Horizon Worlds and the state of the flagship metaverse....