5/19/2022, 3:38 AM (Source: TeleTrader)
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Meta halts hiring for shopping, Messenger Kids - report

Facebook parent Meta Platforms, Inc. is dialing back financial support and hiring for a number of its teams, including Facebook Dating and Gaming, Messenger Kids, the Commerce team, and the Remote Presence team, developed as a competition to Zoom, The Verge reported on Thursday.

According to the report, Meta CEO Mark Zuckerberg said last week regarding potential layoffs: "What I can tell you is that as of where we sit today, our expectation is not that we’re going to have to do that. And instead, basically what we’re doing is we’re dialing growth to the levels that we think are going to be manageable over time."

On May 10, Meta-owned Instagram announced the introduction of digital collectibles to the platform that will enable select creators and collectors to share the non-fungible tokens (NFTs) that they created or purchased on Instagram.

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