International
Facebook owner Meta to lay off 11,000 staff
| By AFP | Juliette Michel with Joseph Boyle in Paris |
Facebook owner Meta will lay off more than 11,000 of its staff in “the most difficult changes we’ve made in Meta’s history,” boss Mark Zuckerberg said on Wednesday.
He said the cuts represented 13 percent of the social media titan’s workforce and would affect its research lab focusing on the metaverse as well as its apps, which include Facebook, Instagram and WhatsApp.
The tech industry is in a serious slump and several major firms have announced mass layoffs — Twitter’s new owner Elon Musk fired half its staff last week.
“I want to take accountability for these decisions and for how we got here,” Zuckerberg said in a note to staff.
“I know this is tough for everyone, and I’m especially sorry to those impacted.”
Ad-supported platforms such as Facebook and Google are suffering with advertisers looking to cut costs as they struggle with inflation and rising interest rates.
Zuckerberg told his 87,000-strong staff he had expected the boost in e-commerce and online activity during the Covid pandemic to continue, but added: “I got this wrong, and I take responsibility for that.”
The measures were also a message to Wall Street, where the company’s poor performance has sent the Meta share price plummeting by 70 percent since the start of the year.
The move on Wednesday was welcomed by investors with Meta shares showing major gains for the day of nearly six percent just ahead of the closing bell in New York.
The downturn has affected companies across the sector, with Apple and Amazon also recently announcing results that disappointed investors.
But Meta also faces some unique problems of its own.
The California-based company is being squeezed by Zuckerberg’s decision to devote billions of dollars to developing the metaverse, an immersive version of the web accessed via virtual reality headsets.
Zuckerberg renamed the company Meta a year ago to reflect the commitment to the project, but the division working on metaverse technology has since made losses of more than $3.5 billion.
Facebook is also struggling to fend off Chinese-owned TikTok, the now dominant social media for younger users to the detriment of Meta’s Instagram.
‘Last resort’
Mike Proulx, a research director at Forrester, said “Meta is amidst an identity crises” and that severe cost-cutting was “inevitable.”
“The company has one foot in a risky long-term metaverse bet and another foot failing to compete with TikTok,” he added.
Zuckerberg has hinted several times this year that belt-tightening measures were just around the corner and said in his letter on Wednesday that staff layoffs were a “last resort.”
Meta would also keep a hiring freeze going into next year, he said, and other spending cuts were envisaged.
“Fundamentally, we’re making all these changes for two reasons: our revenue outlook is lower than we expected at the beginning of this year, and we want to make sure we’re operating efficiently,” Zuckerberg wrote.
In the US, terminated Meta employees will receive four months severance pay and two additional weeks of pay for each year of service.
Last month, Meta announced profits of $4.4 billion in the third quarter, a 52 percent decrease year-on-year.
The slump in profits comes despite its platforms dominating the world in terms of users — Facebook alone claims to have around two billion people who log on daily.
International
Mexico requests extradition of ‘Mini Lic’ for murder of journalist Javier Valdez
The Mexican government has requested the extradition of Dámaso López Serrano, a former high-ranking member of the Sinaloa Cartel, who is accused of masterminding the 2017 murder of Mexican journalist Javier Valdez, the Attorney General’s Office announced on Tuesday.
López Serrano, known as “Mini Lic,” was arrested last Friday in Virginia, United States, on charges of fentanyl trafficking, a crime he committed while on parole.
“This is the key issue for us, he [López Serrano] is the mastermind of this murder. The rest of the perpetrators are already processed and in jail, he was the one missing,” said Attorney General Alejandro Gertz.
“We immediately made the extradition request,” the official added during the routine morning press conference of President Claudia Sheinbaum.
Valdez, an award-winning reporter specializing in drug trafficking and correspondent for AFP and the newspaper La Jornada, was murdered on May 15, 2017, in front of the office of his magazine Riodoce in Culiacán, the capital of Sinaloa state.
“Mini Lic” was originally arrested in 2017 when he voluntarily turned himself in to U.S. authorities and pleaded guilty to trafficking methamphetamine, heroin, and cocaine. In 2022, he was released on parole.
Gertz confirmed that the Mexican Attorney General’s Office had requested López Serrano’s extradition “countless times,” but Washington had declined to act on the request because he had become a “protected witness” for the U.S. government and “was providing a lot of information.”
“Now, with this situation where they themselves are acknowledging that this individual is still committing crimes, I think there are more than enough reasons for them to support us,” the prosecutor added.
The Sinaloa Cartel is one of the largest drug trafficking organizations in Mexico and was founded by Joaquín “El Chapo” Guzmán, who is serving a life sentence in the United States.
Culiacán has been shaken by a wave of murders since the arrest of Ismael “Mayo” Zambada, another key leader of the cartel alongside Guzmán, on July 25 in New Mexico, United States.
International
Cuba’s government stresses openness to serious, respectful U.S. relations
Cuba reiterated on Tuesday its willingness to engage in dialogue with the United States, just weeks before Republican President Donald Trump assumes office. During his first term, Trump halted the historic rapprochement between the two countries, which had been initiated just ten years earlier by Democrat Barack Obama.
“It will not be Cuba that proposes or takes the initiative to suspend the existing dialogues, to suspend the existing cooperation. Not even the discreet exchanges on some sensitive issues,” said Cuban Deputy Minister of Foreign Affairs Carlos Fernández de Cossío at a press conference in Havana.
“We will be attentive to the attitude of the new government, but Cuba’s stance will remain the same as it has been for the last 64 years. We are willing to develop a serious, respectful relationship with the United States, one that protects the sovereign interests of both countries,” he added.
His statements come on the occasion of the tenth anniversary of the historic rapprochement announcement between Washington and Havana.
On December 17, 2014, Cuban leader Raúl Castro (2006-2021) and Barack Obama (2008-2016) announced the beginning of a thaw in relations, which led to the restoration of diplomatic ties in 2015, after more than half a century of confrontation.
This process of thawing bilateral relations was later halted by businessman Donald Trump, who significantly reinforced economic sanctions against the communist-ruled country. The Republican will return to the White House on January 20.
Cuba, under a U.S. trade embargo since 1962, was re-listed in 2021 on the “blacklist of countries supporting terrorism,” blocking financial and economic flows to the island of 10 million inhabitants.
Subsequently, the administration of current Democratic President Joe Biden made only slight adjustments to the sanctions and also kept Cuba on this list. However, his administration resumed bilateral contacts with Havana on migration issues and the fight against terrorism.
International
Mexican government to use church atriums for gun surrender program to combat violence
The atriums of Mexican Catholic churches will be used for the voluntary surrender of weapons in exchange for economic and legal incentives as part of a plan announced on Tuesday by the government to reduce violence.
According to the Mexican government, there is a link between the illegal trafficking of weapons—almost entirely coming from the United States—and the spiral of criminal violence that has plagued the country since late 2006, when a controversial military anti-drug offensive was launched.
“The idea is to set up areas in the church atriums where people can voluntarily surrender their weapons, and in return, they will receive financial resources based on the weapon they are turning in,” explained President Claudia Sheinbaum during her regular press conference.
The left-wing leader emphasized that the program, called “Yes to Disarmament, Yes to Peace,” guarantees that those who surrender their weapons will not face any “investigation.”
“What we want is to disarm. This will be implemented next year. We also did it in Mexico City, and it had significant results,” added the former mayor of the capital, with a population of 9.2 million.
The disarmament plan is part of the government’s “comprehensive security strategy,” one of whose pillars is promoting a culture of peace, especially in regions severely affected by organized crime violence, Sheinbaum pointed out.
More than 450,000 people have been murdered in Mexico since the government launched its military-led anti-drug operation, alongside about 100,000 people who have gone missing.
Despite being a secular state, the Mexican Catholic Church has played a key role in efforts to contain violence, with priests acting as mediators between citizens and criminals. Several clergy members have been killed for this cause.
Just last week, the Catholic hierarchy called on cartels to declare a truce in their violent actions during the celebration of the Virgin of Guadalupe on December 12 and the upcoming Christmas holidays.
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