iWorld
Facebook India reports 27% rise in profit in FY18
MUMBAI: According to Registrar of Companies (RoC) filings sourced by data platform Tofler, Facebook India Online Services reported a 27 per cent increase in net profit to Rs 77 crore for the year ended March 2018.
Facebook reported a 53 per cent rise in revenue from operations to Rs 521 crore in FY18 from Rs 341 crore in FY17. At the same time, expenses went up 55.4 per cent to Rs 443.8 crore in FY18 from Rs 285.5 crore.
The company’s employee benefit cost also rose 18 per cent to Rs 110 crore from Rs 89.6 crore last year.
Although, Facebook reported a 53 per cent rise in revenue in FY18 but as per filings, it reveals that there has been a slowdown in the rate of growth. Facebook had reported a 93 per cent jump in revenue to Rs 342 crore in FY17 from Rs 177 crore in FY16. And with that, the growth in net profit also looks to have been slowing down as Facebook’s net profit had jumped 31 per cent to Rs 40.7 crore in FY17 from Rs 31 crore in FY16.
After the Cambridge Analytica data breach, Facebook had drawn a lot of criticism both from users and advertisers. Since then, Facebook has tried to take several measures to fix the issues.
To call attention, in India, Facebook has undertaken an offline process to verify identity and locations of political advertisers in India as the country’s general elections arrive next year.
iWorld
Meta plans 8,000 layoffs in new AI-led restructuring wave
First phase from May 20 may cut 10 per cent workforce amid AI pivot.
MUMBAI: At Meta, the future may be artificial but the cuts are very real. The social media giant is reportedly preparing a fresh round of layoffs, with an initial wave expected to impact around 8,000 employees as it doubles down on its artificial intelligence ambitions. According to a Reuters report, the first phase of job cuts is slated to begin on May 20, targeting roughly 10 per cent of Meta’s global workforce. With nearly 79,000 employees on its rolls as of December 31, the move marks one of the company’s most significant workforce reductions in recent years.
And this may only be the beginning. Sources indicate that additional layoffs are being planned for the second half of the year, although the scale and timing remain fluid, likely to be shaped by how Meta’s AI capabilities evolve in the coming months. Earlier reports had suggested that total cuts in 2026 could reach 20 per cent or more of its workforce.
The restructuring comes as chief executive Mark Zuckerberg continues to steer the company towards an AI-first operating model, committing hundreds of billions of dollars to the transition. Internally, this shift is already visible: teams within Reality Labs have been reorganised, engineers have been moved into a newly formed Applied AI unit, and a Meta Small Business division has been created to align with broader structural changes.
The trend is hardly isolated. Across the tech sector, companies are trimming headcount while investing aggressively in automation. Amazon, for instance, has reportedly cut around 30,000 corporate roles nearly 10 per cent of its white-collar workforce citing efficiency gains driven by AI. Data from Layoffs.fyi shows over 73,000 tech employees have already lost jobs this year, compared with 153,000 in all of 2024.
For Meta, the move echoes its earlier “year of efficiency” in 2022–23, when about 21,000 roles were eliminated amid slowing growth and market pressures. This time, however, the backdrop is different. The company is financially stronger, generating over $200 billion in revenue and $60 billion in profit last year, with shares up 3.68 per cent year-to-date though still below last summer’s peak.
That contrast underlines the shift underway. These layoffs are less about survival and more about reinvention. As Meta restructures itself around AI from autonomous coding agents to advanced machine learning systems, the question is no longer whether the company will change, but how many roles will be left unchanged when it does.
