![]() The sources for this piece include an article in Engadget. Persistent inflation has forced many advertisers to cut back on ad spending, and as ad revenue remains Meta’s largest source of revenue, the company has seen a massive drop.Īpple’s privacy policies have also affected Meta, preventing the company from using its customers’ data for targeted advertising. Meta generated huge revenue during the pandemic, as many advertisers were forced to promote their wares on social media in order to reach customers. The decision to layoff contract workers comes amid a series of challenges that have led to falling revenues for the company. However, an unnamed Accenture representative who announced the new development to contractors is said to have told affected workers they could reapply and interview for new roles within the company. While the reason for the cuts remains unclear, workers were informed during a hastily arranged video call that the contractors had been selected “at random” by an algorithm. While full-time metaverse jobs have become more scarce, the number of freelance gigs for metaverse-related services like avatar development and 3D design has more than quadrupled, according to freelance talent marketplace Fiverr International.Artificial Intelligence (767) Auto Tech (30) Blockchain (140) CanadianCIO (77) Careers & Education (4405) Channel Strategy (21) Cloud (1964) Communications & Telecom (310) Companies (517) Data & Analytics (1236) Development (610) Digital Transformation (1106) Distribution (121) Diversity & Inclusion (37) Ecommerce (75) Emerging Tech (24105) End User Hardware (20) Engineering (78) Financial Services (93) FinTech (74) Future of Work (302) Governance (86) Government & Public Sector (5953) Human Resources (796) Infrastructure (8480) IoT (6162) ITWC Morning Briefing (101) Leadership (4248) Legal (83) Legislation (110) Managed Services & Outsourcing (4300) Marketing (51) MarTech (3) Medical (16) Mobility (3412) Not For Profit (12) Open Source (18) Operations (64) People (89) Podcasts (1840) Privacy (552) Project Management (1099) Security (7302) Service (36) Smart Home (12) SMB (39) Social Networks (125) Software (4104) Supply Chain (104) Sustainability (60) Tech in Sports (4) Women in Technology (164)Īccenture, a company that oversees teams of Facebook moderators and other contractors, told workers that their work for Facebook would “soon be taken away.” ![]() Learn how you can be a part of helping people find their community, no matter where they are. With features like Groups, Watch, and Marketplace, the Facebook team is making it possible to connect with family, old friends, and new ones. Alphabet, which has shied away from grand futuristic statements about the internet’s next iteration but is moving quickly in areas like augmented reality, has also slowed hiring. Facebook from Meta is the place to build community. ![]() Zuckerberg said on Meta’s July 27 earnings call that he was “slowing the pace” of long-term investments due to the revenue shortfall.Īpple, an emerging rival of Meta’s in the virtual-reality space, said July 28 that it would be “more deliberate” in its recruitment. Now, as employers recalibrate their hiring needs and labour budgets amid growing concerns of a recession, that hype might come face to face with a sobering reality. Meta chief executive officer Mark Zuckerberg’s big bet on virtual reality and other nascent, immersive technologies encouraged companies of all stripes to look for experts in those fields, which may have created “short-lived hype from the demand side,” Revelio Labs economist Jin Yan said. Representatives for Google parent Alphabet and Apple, which are also active in developing immersive digital technologies, did not immediately reply to a request to comment. The company, which brought on more than 5,700 net new hires in the second quarter, is looking to add talent in areas like machine learning, artificial intelligence and graphics. “After temporarily pausing hiring for certain roles at the company, we’re excited to resume it again for some of our highest priority areas,” said spokeswoman Andrea Beasley. Meta Platforms had slowed hiring in May, but said it has picked back up in recent months. The drop-off coincides with a broader pullback across the tech sector, which has prompted lay-offs and hiring freezes, leaving workers from the Bay Area to Bangalore increasingly rattled. New monthly job postings across all industries with “metaverse” in the title declined 81 per cent between April and June, Revelio found, after surging in the months following Facebook’s rebranding last fall. ![]() Jobs in the metaverse are declining, according to workplace researcher Revelio Labs.
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