Facebook’s parent company, Meta, was ordered to pay out €1.2 billion, or about $1.3 billion, for failing to abide by the European Union’s privacy policies. The fine was imposed by the Irish Data Protection Commission which charged that Meta had violated the terms of General Data Protection Regulations (GDPR), a set of rules for protecting customer privacy in the European […]
Meta Platforms Inc (META.O) has recently launched its subscription service in the U.S., which would allow Facebook and Instagram users to pay for verification a la Elon Musk-owned Twitter. The Meta Verified service will give users a blue badge after they verify their accounts using a government ID and will cost $11.99 per month on the web or $14.99 a […]
Meta Platforms, Inc., doing business as Meta and formerly named Facebook, Inc., has announced that it will cut 10,000 jobs. The cuts come less than six months after the company disclosed 11,000 layoffs in November as CEO Mark Zuckerberg seeks to make the business more efficient. Meta’s chief executive officer, Mark Zuckerberg, said the cuts would be tough and were […]
Facebook’s stock was up against the wall in trading as shares of the company recently dropped by over 24%. Over $29 billion was reportedly peeled off Mark Zuckerberg’s personal net worth given this fall. According to Dow Jones Market Data Group, over $219 billion in market value has been erased, the most for any U.S. company in a single day. […]
According to press reports, Facebook suspended for 24 hours the account of Representative Marjorie Taylor Greene for spreading misinformation about the coronavirus, a day after Twitter permanently banned one of her accounts for posting a similar message. Ms. Greene, a Georgia Republican, had posted falsely about “extremely high amounts of Covid vaccine deaths.” She published the message on Saturday as […]
In a 60 Minutes report, Frances Haugen says in her time with Facebook she saw, “conflicts of interest between what was good for the public and what was good for Facebook.” Five take away quotes from the report includes: “The version of Facebook that exists today is tearing our societies apart and causing ethnic violence around the world.” “There were […]
Facebook CEO Mark Zuckerberg is lending support to the new workplace dynamics by allowing his employees the option of working from home, according to press reports. Facebook said in a memo to employees obtained by the Chronicle that “anyone whose role can be done remotely can request remote work.” “It’s clear that COVID has changed a lot about our […]
In a report recently, Facebook has pledged to invest at least $1 billion in the news industry over the next three years. The announcement came on the back of Australia’s government move to force tech platforms to pay for third party news content. Media companies have complained for years that they are not fairly compensated for articles and other content […]
U.S. telecommunications giant Verizon Wireless has become the latest major company to pull advertising from Facebook platforms. The company joins Ben and Jerry’s and a growing list of firms boycotting the social media giant over its handling of controversial posts. Verizon is believed to be the biggest advertiser so far to back the “Stop Hate for Profit” campaign. Unilever, Coca-Cola, […]
More than 100 billion messages hit the social media platform WhatsApp on New Year’s Eve, thus setting a record for the social media outlet. These numbers were the first the Facebook-owned service was witnessing in a single day in its 10-year history. The company said more than 12 billion of the messages sent globally were picture messages. In the United […]
