Facebook twitter, Social media service

San Francisco, July 1 Meta, formerly Facebook, has warned employees to expect a tough second half of the year as the tech giant continues to weather challenges related to its core online advertising business amid a weakening economy.A spokesperson confirmed to CNBC that Meta chief product officer Chris Cox detailed the company's financial dilemma in an internal memo that detailed key areas where the social media giant plans to invest.Cox reiterated statements made by Meta CEO and co-founder Mark Zuckerberg during a call with analysts as part of the company's first-quarter earnings report, which detailed the negative impact on the company's business caused by a privacy update Apple made to the iPhone last year.The Meta executive added that the company is in "serious times here and the headwinds are fierce", underscoring that its challenges aren't likely to vanish anytime soon, the report said."We need to execute flawlessly in an environment of slower growth, where teams should not expect vast influxes of new engineers and budgets," Cox wrote."We must prioritise more ruthlessly, be thoughtful about measuring and understanding what drives impact, invest in developer efficiency and velocity inside the company, and operate leaner, meaner, better exciting teams."To offset the impact of Apple's update, which limited Facebook's ability to target ads to specific audiences, Cox said the company is pushing hard to make money from Instagram Reels, its TikTok competitor, and also investing in AI to drive content recommendations like TikTok does, as the company has previously said.Meta also plans to invest in features that would make it easier for retailers to show ads to customers on its family of apps, and for employees to communicate with businesses through messaging.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Facebook TwitterFOLLOW

Facebook twitter, Latest News

Patna, July 11 A youth in Bihar's Gopalganj was arrested on Monday for uploading an objectionable post against ... ...

Ever seen a sheep getting arrested? Well, this viral video of a stray sheep getting a ride home to its farm in a police van has been widely circulated on social media as netizens are left equally amused and delighted by the rare sight. ...

Patna, July 6 A Hindu youth was thrashed in Bihar's Arrah city by around two-dozen people for reportedly ... ...

Famous guitarist Carlos Santana suddenly collapsed on the stage while performing in Michigan recently. ...

Mumbai, July 5 Playback singer Sona Mohapatra, who has crooned hit numbers such as 'Bedardi Raja', 'Ambarsariya' and ... ...

Kiev, July 5 Ukrainian presidential advisor Oleksiy Arestovych has described as "successful" Ukraine's military operation in the key ... ...

Guwahati, 2 July A man was arrested in Assam's Hailakandi district for allegedly supporting the gruesome murder of ... ...

San Francisco, July 1 Meta, formerly Facebook, has warned employees to expect a tough second half of the ... ...