Top Tech News Today: More Facebook Layoffs Are Likely, CEO Mark Zuckerberg Puts Managers On Notice! Elon Musk Includes Crypto in the Twitter Payments Platform

Mark Zuckerberg has put some middle managers on notice says a report! Read more tech news

Good morning tech fam, here are some quick tech updates for you to catch on to!

What's New Today: The Head of Mental Health at Google Was One of the 12,000 Employees Laid Off by the Company.

Fast-Track Insights: A Charity Associated With FTX is Under Investigation By the Body In Charge of Overseeing Registered Charities In England and Wales.

Meta CEO Mark Zuckerberg lay off 11,000 staff shortly after Elon Musk sacked thousands of Twitter employees. It appears that more Meta employees may be laid off soon. According to a recent storey, Zuckerberg has called out certain middle management. This suggests that additional layoffs at the tech firm are on the way. To recall, Zuckerberg laid off 11000 people worldwide in November of last year due to difficult macroeconomic conditions. According to the newsletter Command Line, Zuckerberg has now put numerous intermediate managers on notice. According to the newsletter, the Meta CEO admonished several of these managers at a recent all-hands meeting.

Kristin Maczko, Google's director of worldwide mental health and well-being, revealed that she was let go after 15 years with the firm. Maczko was one of 12,000 employees thrown off by Microsoft earlier this month to save costs amid uncertain macroeconomic conditions. Maczkoo also stated that Google has fired "several workers on the Mental Health and Well-being team." Many impacted Googlers have taken to social media in recent days to relate their experiences in the midst of widespread layoffs. There have been several additional incidents where employees with more than 15 years of service have been laid go. Not only Google, but also Microsoft, Meta, and Amazon, have laid off thousands of employees in the last two months.

Everyone was taken aback a few days ago when Google announced layoffs and a decision to eliminate up to 12,000 jobs globally. Sundar Pichai, CEO of Google, announced the news and took "full responsibility" for it. Sundar Pichai, who announced the layoffs in a message to all employees, stated that anyone affected will receive full support from the company during this difficult time. The Google CEO, on the other hand, received a big pay raise in December 2022, just weeks before the decision to terminate workers was publicized. By this time, reports of impending job layoffs at Google had also appeared, and the business had begun to more rigorously evaluate employees' performance.

Elon Musk's big plan for Twitter payments is moving along. In an effort to establish revenue streams other than advertising, the company has begun the application process for state licenses in the United States. Earlier, Tesla CEO Elon Musk delivered a full outline of Twitter's strategy to enter the payments market during a meeting with Twitter advertisers, which was live-streamed on Twitter. The new owner of the social media platform has hinted that users will be able to transfer money to one another on the platform, withdraw funds to verified bank accounts, and possibly be offered a high-yield money market account to encourage them to transfer their cash to Twitter in the not-too-distant future.

The commission in charge of supervising registered charities in England and Wales has revealed that it has initiated an investigation into Effective Ventures Foundation, an organisation associated with the insolvent cryptocurrency exchange FTX. The Charity Commission announced the investigation on January 30th, citing FTX as a "major funder" of Effective Ventures. According to the commission, Effective Ventures declared its ties to FTX as a "serious occurrence" that could have an impact on other assets, allowing the regulator to examine its trustees. "At this point, there is no indication of misconduct by the trustees," the commission stated. "However, there are signs of potential hazards to the charity's assets, and the investigation has been launched to establish facts and assist the trustees in protecting the charity's assets."