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Instagram, WhatsApp, and Reality Labs layoffs are announced by Meta

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Instagram, WhatsApp, and Reality Labs divisions of tech behemoth Meta have all announced layoffs.

Part of the company’s continuous endeavour to match resources with its long-term strategic goals and location plan is the decision that was made on Wednesday.

The long-term goal of the adjustments, according to a statement from Meta, is to keep the business competitive. “Today, a few teams at Meta are making changes to ensure resources are aligned with their long-term strategic goals and location strategy,” said the statement. Though attempts would be made to assist affected staff in securing other opportunities, the corporation stated that although some employees will move to different roles, others may find their positions abolished.

Despite not disclosing the precise number of layoffs, Meta seems to be carrying out CEO Mark Zuckerberg’s “Year of Efficiency,” which he started in the previous year. In an effort to reduce costs overall and shift its attention away from the Metaverse, Meta has eliminated over 10,000 workers since making that announcement.

Curiously, the second quarter’s financial results beat expectations, and this was announced right after the layoffs. That being said, the decision to restructure its virtual reality hardware and software operations was probably influenced by the department’s continued significant losses.

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Maintaining Fertiliser Price Stability: The Need for a Continuous Gas Supply to the Fertiliser Sector

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To guarantee fertiliser price stability, a cabinet committee meeting was presided over by Senator Muhammad Ishaq Dar, the deputy prime minister.

Senior government officials, including Industries Minister Rana Tanveer Hussain, attended the meeting.

The attendees received an update on the government’s, gas suppliers’, and fertiliser industry’s conversations. Additionally, the gas supply for the fertiliser sector was evaluated and determined to be adequate.

Throughout the Rabi cropping season, the Deputy Prime Minister ordered the fertiliser industry to maintain a continuous gas supply in order to guarantee steady production and stock levels.

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Fifth Straight Cut: PM Applauds SBP’s Policy Rate Reduction

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5 days ago

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Prime Minister Muhammad Shehbaz Sharif has praised the State Bank of Pakistan’s decision to lower its policy rate by an additional 2 percent, stating that the bank’s current 13 percent rate is encouraging for the nation’s economy.

He expressed optimism in a statement that the policy rate cut would encourage investment and further boost investor confidence in the country’s economy.

The prime minister said that decreasing the inflation rate also lowered the policy rate and that future inflation rate reductions will be even more pronounced.

Additionally, he expressed gratitude to the Federal Finance Minister and other officials for their work in this area.

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GHQ Attack Case: Prosecution Seeks Bail Cancellation of CM KP & Other Accused, Indicts 9 More

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5 days ago

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25 defendants, including PTI officials, have non-bailable arrest warrants issued by the Anti Terrorism Court of Rawalpindi for their failure to show up for court proceedings related to the GHQ attack case.

Judge Amjad Ali Shah added nine more suspects to the GHQ attack indictment list during today’s ATC Court sessions, bringing the total to 98.

Among the 61 defendants who appeared in court were Shah Mehmud Qureshi and the founder of the PTI.

Among those charged are Khadim Hussain Khokhar, Mehr Mohammad Javed, Chaudhary Asif, Zakir Ullah, Azeem Ullah, Shireen Mazatri, Major Retired Tahir Sadiq, and former MPA Rashid Hafeez.

A plea to cancel the bail of 23 suspects, including Chief Minister Khyber Pakhtunkhwa, has also been filed by the prosecution side.

In the GHQ attack, there were 119 accused in total.

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