IlluMyFi

10% of Facebook’s UK workforce was axed while revenue fell slightly but pre-tax profits rose despite advertising slowdown

Facebook cut more than 700 employees in the UK last year at a cost of £79m, after parent company Meta embarked on its first ever round of redundancies as part of a global cost-cutting drive to offset a disastrous collapse in revenues.

The company – which is one of the most valuable US tech companies behind Apple, the Google owner Alphabet, and Amazon – also reduced its UK tax bill to just over 12% of its pre-tax profits, half the standard 25% corporation tax rate.

Sentiment

-0.98

Bearish/Bullish

26.12.24 04:00

by theguardian.com

Cancer patient fears dying without justice as tribunal date repeatedly delayed

IT technician Joe Mezgebe arrived at unfair dismissal hearing to find no judge available – for the second time

A disabled man with prostate cancer has had his employment tribunal for unfair dismissal postponed the day before it was due to take place because a judge was not available – 13 months after exactly the same thing happened.

Joe Mezgebe, an IT technician, who first presented his claim against Christ’s College, Finchley academy in June 2021, has lost £15,300 in fees to his barrister as a result of the cancellations, and fears he may not live to see justice done.

United States of America