Facebook owner Meta will lay off 11,000 workers

Creative Media NewsThursday, 10 November 2022, 0:000

Meta, the owner of Facebook, Instagram, and WhatsApp, has stated it will reduce its workforce by 13 percent. The first mass layoffs in the company’s history will result in the termination of 11,000 employees out of a total workforce of 87,000. Mark Zuckerberg, chief executive officer of Meta, described the layoffs as “the most challenging...

Made.com fails, threatening thousands of orders.

Creative Media NewsWednesday, 9 November 2022, 23:000

Next will not retain any employees as it acquires a portion of a failing online furniture retailer. Made.com has entered administration, resulting in the termination of all 573 employees and the suspension of thousands of customer orders. When it was reported that the online furniture retailer’s operating company had formally folded and that rival Next...

The owner of Facebook and Instagram, Meta, will lay off almost 11,000 employees.

Creative Media NewsWednesday, 9 November 2022, 16:000

Mark Zuckerberg acknowledges his errors contributed to Meta’s difficulties as he apologizes for the need to lay off so many employees as part of broader efforts to reduce costs and concentrate the firm. The owner of Facebook and Instagram, Meta, has laid off 13 percent of its workers in response to the deteriorating global economy....

Energy companies remotely install prepaid meters in residences

Creative Media NewsWednesday, 9 November 2022, 9:000

A growing number of families are remotely switching their smart energy meters to prepayment meters, according to the energy regulator. Suppliers can use the technology to switch clients without their consent to a payment method that is frequently more expensive. Customers that need to refuel run the danger of running out of energy. Ofgem stated...

As sales exceed pre-COVID levels, Primark won’t raise prices.

Creative Media NewsWednesday, 9 November 2022, 2:000

The parent business of Primark stated that it confronts large expenses and volatile foreign exchange rates. While announcing a recovery to pre-COVID-19 sales and market share in the UK, Primark stated that it will not hike prices further despite hefty expenditures. Commenting on Primark’s full-year results, the CEO of Primark’s parent company, Associated British Foods,...

Household grocery bills ‘increase by £40 a month’

Creative Media NewsWednesday, 9 November 2022, 1:000

As grocery sales soar and demand the cheapest own brand ranges continues to rise, data from the supermarket industry supports the notion that consumers are eating out less to save money, as grocery sales soar and demand for the cheapest own brand ranges continues to rise. The average cost of a year’s worth of groceries...

Foxconn is betting on electric vehicle manufacturer Lordstown Motors.

Creative Media NewsTuesday, 8 November 2022, 21:000

Foxconn, which manufactures iPhones for Apple, has reportedly increased its stake in a US electric pick-up truck company, which might compete with Tesla’s Cybertruck. The IT titan will invest up to $170 million (£147.8 million) in shares of the loss-making startup Lordstown Motors. The substantial infusion of capital occurs as the company seeks to increase...

Just Stop Oil protestors charged following second day of M25 blockade

Creative Media NewsTuesday, 8 November 2022, 11:000

On Monday, Just Stop Oil members also scaled highway furniture. 24 individuals have been charged about the Monday and Tuesday protests. Eight individuals have been charged for Just Stop Oil’s second day of disruption on the M25. Tuesday at 7:00 a.m., the climate change group blocked the freeway by climbing onto gantries “at various spots.”...

Tesla recalls 40,000 vehicles due to a power-steering defect.

Creative Media NewsTuesday, 8 November 2022, 10:000

Tesla is recalling slightly over 41,000 vehicles in the United States due to a potential problem with the power steering. The electric vehicle maker owned by Elon Musk warns that the power-steering assist technology may malfunction on uneven roads or after hitting a pothole. The National Highway Traffic Safety Administration stated that it could necessitate...

China’s COVID regulations cause iPhone delays for Apple.

Creative Media NewsTuesday, 8 November 2022, 1:000

According to the business, “the factory is now working at a drastically reduced capacity,” and iPhone 14 Pro and 14 Pro Max shipments would be fewer than anticipated. As a result of COVID restrictions imposed on a contractor’s plant in central China, Apple is notifying customers that the latest iPhone models may be delayed. Foxconn’s...

eBay encourages customers to choose used items over new ones this Black Friday

Creative Media NewsMonday, 7 November 2022, 22:000

This month, online marketplace eBay is returning to its roots by promoting exclusively pre-owned or refurbished Black Friday goods. The platform asserts that it intends to take a novel approach to the pre-Christmas buying event. Murray Lambell, eBay’s UK manager, stated that it was time to abandon the “purchasing for the sake of buying” approach....

CVC makes £1.5bn approach for IWG’s Instant Group arm

Creative Media NewsMonday, 7 November 2022, 19:000

CVC Capital Partners, an investor in Six Nations Rugby, has approached IWG regarding a possible spin-off of its internet division, The Instant Group. The private equity investor of Six Nations Rugby has approached Britain’s largest serviced office provider regarding a £1.5bn merger that might lead to a bigger breakup of the firm. CVC Capital Partners...

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