Roundup – YouTube’s CEO says goodbye; Meta plans more job cuts and faces prosecution
YouTube CEO Susan Wojcicki steps down after nine years
According to reports, Wojcicki wrote in a blog post that she has “decided to start a new chapter focused on my family, health and personal projects I’m passionate about.” YouTube’s chief product officer Neal Mohan will replace the nine-year serving CEO as head of the video platform. “The time is right for me, and I feel able to do this because we have an incredible leadership team in place at YouTube,” Wojcicki added. She will continue to work at YouTube in the “short term” to support Mohan and help with the transition. “This will allow me to call on my different experiences over the years to offer counsel and guidance across Google and the portfolio of Alphabet companies.”
Apple to develop AR device Nikkei
The tech giant’s Chinese contract manufacturer Luxshare Precision Industry Co Ltd will support Apple to develop what some suggest has been its “long-awaited” augmented reality (AR) device. Luxshare has replaced the AR development team in Shanghai and Taiwan-based Foxconn is also involved in the project with Apple which is said to have snapped up two of its most important suppliers, Sony and Taiwan Semiconductor Manufacturing Co to create micro OLED displays. The headset is reported to cost around $3,000 and will be launched this spring, competing with the likes of Meta’s Quest Pro virtual and mixed-reality headset.
Italy cracks down on Meta for $925 million in sales taxes
Mark Zuckerberg’s company faces a potential tax bill of around 870 million euros ($925 million) after Milan magistrates launched an investigation into the company at the request of the European Public Prosecutor’s Office (EPPO). The office asked the Guardia di Finanza police and the Italian Revenue Agency to check if there was a case for user registrations to be subject to tax.
In an email to Reuters, a Meta spokesperson said, “we strongly disagree with the idea that providing access to online platforms to users should be charged with VAT.” They added that the company takes its tax obligations seriously, pays all tax required in the countries where it operates and will fully cooperate with the authorities.
Meta preparing for fresh round of job cuts
Still with Meta, the company is also planning to slash thousands of positions in a downsizing effort, according to reports. Zuckerberg’s firm already waved goodbye to 13% of its workforce last year, more than 11,000 employees, as it battled with rising costs and a “weak” advertising market. This was the first time in its 18-year history that the organisation had made layoffs of this magnitude. Meta now plans to push some leaders into lower-level roles without direct reports, flattening the layers of management.
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