Meta Platforms Inc META.O said on Wednesday it will let go of 13% of its workforce, or more than 11,000 employees, in one of the biggest layoffs this year as the Facebook parent battles soaring costs and a weak advertising market.

Meta Platforms was accused in a lawsuit filed in Kenya on Wednesday of letting violent and hateful posts from Ethiopia flourish on Facebook, inflaming the Ethiopian civil war.

The EU's competition watchdog has accused tech giant Meta, which owns Facebook and Instagram, of breaching antitrust rules. An early analysis says the firm distorted competition in the online classified ads business.

The former US president had been blocked from the social media platforms since the January 6, 2021 insurrection. Meta said it was taking measures to prevent "repeat offenders" from violating its rules.

Facebook has been under scrutiny before, for failing to curb hate speech on its platform in Ethiopia. The son of a man killed after calls for his murder appeared on the platform argues that Facebook treats Africa differently to Europe and the US.

"Meta Verified" follows Twitter and other social media companies attempting to instill confidence in their services by asking users to pay to prove their identities.

Facebook-parent Meta Platforms said on Tuesday it would cut 10,000 jobs this year, making it the first Big Tech company to announce a second round of mass layoffs as the industry braces for a deep economic downturn.

Using virtual reality and "digital twin" technology, industry players are starting to turn to the so-called metaverse to boost productivity. But not everyone at the Hannover Trade Fair is happy to call it that.

The US Federal Trade Commission has unveiled a proposal that would bar social media giant Meta from profiting off the personal data collected from child users. The FTC is accusing Facebook and Instagram's parent company of repeated violations of data privacy policies.

Meta started carrying out the last batch of a three-part round of layoffs on Wednesday, according to a source familiar with the matter, as part of a plan announced in March to eliminate 10,000 roles.

In a big gamble for the world’s most valuable company, Apple is widely expected to launch its first major new product in almost a decade at its annual developers' conference next week: a virtual reality headset.

Apple launches $3500 augmented reality headset as interest in metaverse wanes. Watch. Apple unveils its first new piece of hardware in nearly a decade: the $3,500 Vision Pro augmented reality goggles come as interest in the metaverse has been surpassed by buzz around artificial intelligence.