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Facebook parent Meta is preparing large-scale layoffs this week: Report

Meta Platforms Inc is planning to begin large-scale layoffs this week that will affect thousands of employees, the Wall Street Journal reported on Sunday citing people familiar with the matter, with an announcement planned as early as Wednesday.

Facebook parent Meta in October forecasted a weak holiday quarter and significantly more costs next year wiping about $67 billion off Meta's stock market value, adding to the more than half a trillion dollars in value already lost this year.

The disappointing outlook comes as Meta is contending with slowing global economic growth, competition from TikTok, privacy changes from Apple, concerns about massive spending on the metaverse and the ever-present threat of regulation.

Nitin Gadkari to inaugurate 13 road projects worth Rs 5315 cr in MP today

Union Minister Nitin Gadkari and Madhya Pradesh Chief Minister Shivraj Singh Chouhan will lay the foundation stone and inaugurate 13 road projects worth Rs 5315 crore in Jabalpur and Mandla districts of Madhya Pradesh on Monday.

The Union Minister and CM Chouhan will lay the foundation stone of five road projects of 329 km worth Rs 1261 crores at Police Ground, Mandla. On the other hand, they will inaugurate eight road projects 214 km long costing Rs 4054 crores at Veterinary College Ground in Jabalpur.

Elon Musk threatens to permanently suspend Twitter account impersonators

Elon Musk tweeted Sunday that Twitter will permanently suspend any account on the social media platform that impersonates another.

The platform's new owner issued the warning after some celebrities changed their Twitter display names not their account names and tweeted as Elon Musk' in reaction to the billionaire's decision to offer verified accounts to all comers for $8 month.

Going forward, any Twitter handles engaging in impersonation without clearly specifying parody will be permanently suspended, Musk wrote. While Twitter previously issued warnings before suspensions, now that it is rolling out widespread verification, there will be no warning.


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First Published: Nov 07 2022 | 08:50 AM IST

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