Pearson gold heist suspect arrested after flying into Toronto from India
Another suspect is in custody in connection with the gold heist at Toronto Pearson International Airport last year, police say.
Facebook parent Meta is slashing 10,000 jobs, about as many as the social media company announced late last year in its first round of cuts, as uncertainly about the global economy hits the technology sector particularly hard.
The company announced 11,000 job cuts in November, about 13% of its workforce at the time. In addition to the layoffs, Meta said Tuesday that it would not fill 5,000 open positions.
"This will be tough and there's no way around that," said CEO Mark Zuckerberg.
Meta and other tech companies have been hiring aggressively for at least two years and in recent months have begun to let some of those workers go. Hiring in the U.S. is still strong, but layoffs have hit hard in some sectors.
Early last month, Meta posted falling profits and its third consecutive quarter of declining revenue. On the same day, the company said that it would buy back as much as $40 billion of its own stock.
The Menlo Park, company said Tuesday it will reduce the size of its recruiting team and make further cuts in its tech groups in late April, and then its business groups in late May.
Zuckerberg has invested tens of billions of dollars building out its metaverse, its virutal reality concept, and renamed the company Meta, signaling a new focus for Facebook.
"As I've talked about efficiency this year, I've said that part of our work will involve removing jobs -- and that will be in service of both building a leaner, more technical company and improving our business performance to enable our long term vision," said Zuckerberg.
The biggest tech companies in the U.S. are cutting costs elsewhere, too.
This month, Amazon paused construction on its second headquarters in Virginia following the biggest round of layoffs in the company's history and its shifting plans around remote work.
Global inflation has remained stubborn and its made for more difficult decisions for both households and businesses in the U.S.
Fast growth companies, including many in the technology sector, are hunkering down for what may be an extended period of adverse economic conditions.
"At this point, I think we should prepare ourselves for the possibility that this new economic reality will continue for many years," Zuckerberg said in a message to employees.
Meta shares rose nearly 7 per cent Tuesday.
Another suspect is in custody in connection with the gold heist at Toronto Pearson International Airport last year, police say.
Hailey and Justin Bieber are going to be parents. The couple announced the news on Thursday on Instagram, both sharing a video that showcases Hailey Bieber's growing belly.
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
A B.C. man has been convicted of assault with a weapon after using a skid-steer Bobcat to chase two homeless people from his lawn, injuring one of them in the process.
A Conservative government led by Pierre Poilievre would not legislate on, nor use the notwithstanding clause, on abortion, his office says, as anti-abortion protesters gather on Parliament Hill.
A southwestern Ontario woman has received an $8,400 bill from a hospital in Windsor, Ont., after she refused to put her mother in a nursing home she hated -- and she says she has no intention of paying it.
Miss Teen USA resigned Wednesday, sending further shock waves through the pageant community just days after Miss USA said she would relinquish her crown.
A grieving mother is speaking out after her 36-year-old son was shot and killed in North Preston, N.S., Wednesday night.
A small Ajax dessert shop that recently received a glowing review from celebrity food critic Keith Lee is being forced to move after a zoning complaint was made following the social media influencer’s visit last month.
A Listowel, Ont. man, drafted by the Hamilton Tigercats last week, is also getting looks from the NFL, despite only playing 27 games of football in his life.
A small Ajax dessert shop that recently received a glowing review from celebrity food critic Keith Lee is being forced to move after a zoning complaint was made following the social media influencer’s visit last month.
The Canada Science and Technology Museum is inviting visitors to explore their poop. A new exhibition opens at the Ottawa museum on Friday called, 'Oh Crap! Rethinking human waste.'
The Regina Police Service says it is the first in Saskatchewan and possibly Canada to implement new technology in its detention facility that will offer real-time monitoring of detainees’ vital health metrics.
The stakes have been set for a bet between Vancouver and Edmonton's mayors on who will win Round 2 of the Stanley Cup playoffs.
A grieving mother is hosting a helmet drive in the hopes of protecting children on Manitoba First Nations from a similar tragedy that killed her daughter.
A chicken farmer near Mattawa made an 'eggstraordinary' find Friday morning when she discovered one of her hens laid an egg close to three times the size of an average large chicken egg.
A P.E.I. lighthouse and a New Brunswick river are being honoured in a Canada Post series.
An Ontario man says he paid more than $7,700 for a luxury villa he found on a popular travel website -- but the listing was fake.