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==Management & Culture== | ==Management & Culture== | ||
March 14, 2022. Meta announced that it will layoff 10,000 employees and close 5,000 open jobs that have not been hired. Due to the upcoming layoffs, the company adjusted its 2023 total expenses from $89-95 billion previously to be in the range of $86-92 billion. The company also highlighted some of its vision, culture and operating philosophy, which include; building a better technology company, improving business performance in a difficult economic environment and looking ahead<ref>https://capedge.com/filing/1326801/0001326801-23-000035/META-8K/file/2 | |||
https://discord.com/channels/978370501237932092/980167450182168606/1085192022064906311</ref>. | |||
The Leadership Team was shaken up in 2021 when Mark Zuckerberg announced the Namechange to Meta. Long Serving COO [[wikipedia:Sheryl_Sandberg|Sheryl Sandberg]] as well as CTO Mike Schroepfer left the company. More in [https://discord.com/channels/978370501237932092/980167450182168606/1054678887197573120 Discord] | The Leadership Team was shaken up in 2021 when Mark Zuckerberg announced the Namechange to Meta. Long Serving COO [[wikipedia:Sheryl_Sandberg|Sheryl Sandberg]] as well as CTO Mike Schroepfer left the company. More in [https://discord.com/channels/978370501237932092/980167450182168606/1054678887197573120 Discord] | ||
== Competition == | |||
==Competition== | |||
On March 1 2022, the Deterring America’s Technological Adversaries(DATA) bill that would give Joe Biden the authority to ban TikTok was passed by the U.S. House Foreign Affairs Committee today. CNBC notes that "legislation passed the Republican-controlled committee along party lines, with unanimous GOP support and no Democratic votes." Its next steps will be decided by House Republican leadership, which determines which bills get a vote on House Floor. However, despite this legislation, legislators will still have a long way to go before TikTok is ban. However, a US spin off of TikTok remains a possibility and will still benefit the likes of Meta as Needham analyst, Laura Martin notes that TikTok will be a weakened competitor and will experience a period of uncertainty<ref>https://www.cnbc.com/2023/03/01/new-tiktok-ban-bill-passes-key-house-committee-on-a-party-line-vote.html?utm_term=Autofeed&utm_medium=Social&utm_content=Main&utm_source=Twitter#Echobox=1677684473 | On March 1 2022, the Deterring America’s Technological Adversaries(DATA) bill that would give Joe Biden the authority to ban TikTok was passed by the U.S. House Foreign Affairs Committee today. CNBC notes that "legislation passed the Republican-controlled committee along party lines, with unanimous GOP support and no Democratic votes." Its next steps will be decided by House Republican leadership, which determines which bills get a vote on House Floor. However, despite this legislation, legislators will still have a long way to go before TikTok is ban. However, a US spin off of TikTok remains a possibility and will still benefit the likes of Meta as Needham analyst, Laura Martin notes that TikTok will be a weakened competitor and will experience a period of uncertainty<ref>https://www.cnbc.com/2023/03/01/new-tiktok-ban-bill-passes-key-house-committee-on-a-party-line-vote.html?utm_term=Autofeed&utm_medium=Social&utm_content=Main&utm_source=Twitter#Echobox=1677684473 | ||