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Norway’s $2.3 trillion wealth fund has withheld its vote on John Elkann’s reappointment to Meta’s board, citing insufficient time commitment due to his roles at Stellantis and Exor.
Texas Attorney General Ken Paxton sues Meta over claims that WhatsApp doesn't provide end-to-end encryption, drawing criticism for lack of factual support.
Amazon slashed prices on Meta Ray-Ban smart glasses by up to 25% during its Memorial Day sale, offering significant discounts on second-gen Ray-Bans and Oakley HSTN models.
Meta has launched a new standalone app called Forum, designed to compete with Reddit and built on Facebook Groups. It features an AI-powered 'Ask' tab and an admin assistant.
Meta has settled a landmark lawsuit in Kentucky involving the impact of social media on youth mental health, marking the first school-district trial of its kind in the U.S. The case could set a precedent for thousands of similar lawsuits.
Manus AI is planning a $1 billion capital raise to buy itself out of Meta's $2 billion-plus acquisition after China’s regulatory block.
Meta has notified thousands of employees of layoffs as the company attempts to offset the substantial costs of its AI investments. The workforce reduction is part of Meta's effort to run the company more efficiently.
Meta has begun implementing a 10% workforce reduction, starting with its Singapore office where employees were notified at 4 a.m. local time. The layoffs are part of a broader strategy to enhance operational efficiency amid evolving AI market dynamics.
Meta has proposed a new plan to the European Commission that would allow rival AI chatbots free access to WhatsApp up to a usage cap, before charging fees. The move aims to comply with EU regulations while balancing platform control and revenue.
Meta employees are rushing to cash in on benefits like headphone stipends and other perks before upcoming layoffs. The company plans to cut about 8,000 jobs, or 13% of its global workforce, as part of a broader cost-cutting strategy.
Meta is reassigning 7,000 employees to AI-focused roles while preparing additional layoffs, signaling a major shift in its corporate strategy.
Meta is cutting 8,000 jobs as it focuses its resources on a $145 billion AI infrastructure bet, signaling a major strategic shift under CEO Mark Zuckerberg.
