Meta Dissolves Team Assigned To Police Potential Ethical Issues Of Facebook, Instagram

Just a little a year after drumming up their own ‘responsible innovation’ efforts, Facebook’s parent company Meta Platforms, Inc (NASDAQ: META) has cut the team tasked to lead these efforts, the Wall Street Journal reports.

Meta’s abandonment of its Responsible Innovation team, which is supposed to police potential ethical issues caused by their products Facebook, Instagram, and WhatsApp, comes at a time when the company remains under legal scrutiny for its policies and practices, especially those concerning user privacy.

Meta spokesman Eric Porterfield told the WSJ that the tech giant remains committed to the goals set by the Responsible Innovation team. But the team, made up of around two dozen employees, including engineers and ethicists, did not get the company’s commitment that they would all have new jobs. Although Porterfield said that most of the team’s members would be spread around the company to do similar work.

Porterfield added that the company deemed that resources for safe and ethical product design are better spent on more issue-specific teams. 

The Responsible Innovation team is one of the casualties as Meta looks for ways to cut costs. In July, founder and CEO Mark Zuckerberg announced a slowdown in hiring and implied the possibility of layoffs, saying that there are “a bunch of people at the company who shouldn’t be here,” after reporting its first-ever revenue decline since going public in 2012.

The company continues to struggle with shrinking profits from its core advertising business, and its share value has been slashed by almost half since the beginning of the year.

Via Yahoo! Finance

Meta last traded at $167.98 on the Nasdaq.


Information for this briefing was found via the Wall Street Journal, Business Insider, and the sources and companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

Giant Mining Encounters Native Copper As Hole MHB-34 Hits 563 Metres Depth

Verses Hits Commercialization Stage With Genius AI Platform

Related News

Meta Unveils Threads’ Web Version to Counter Platform X’s Dominance

Meta Platforms (NASDAQ: META), the parent company of Facebook and Instagram, has unveiled the web...

Tuesday, August 22, 2023, 10:07:25 AM

Microsoft Unveils its own Version of Metaverse in Effort to Surpass Facebook in Virtual Reality Space

Tech company Microsoft (NASDAQ: MSFT) has decided to create its own version of a metaverse,...

Thursday, November 4, 2021, 02:50:00 PM

After Twitter, Meta Reportedly Conducting “Most Significant” Job Cuts Ever

Meta Platforms (Nasdaq: META) is expected to lay off staff this week in what would...

Monday, November 7, 2022, 02:26:00 PM

Meta Users Find Trump Accounts Auto-Added to Feeds

Meta Platforms (NASDAQ: META) faced user backlash Tuesday after Facebook and Instagram users discovered they...

Wednesday, January 22, 2025, 12:10:00 PM

Meta Platforms To Take “Competitive” 47.5% Cut Of NFT Sales In It’s Metaverse

It appears that Meta Platforms (NASDAQ: FB) is looking to make up for recently lost...

Wednesday, April 13, 2022, 08:26:11 AM