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With the exception of Apple, the giants of the Silicon Valley had to implement a massive redundancy plan in the fall, while the number of their employees had exploded during the pandemic. Meta cut 11,000 jobs, or about 13% of its workforce<\/strong>. Hiring has been frozen until the end of March 2023 and the layoffs may not be over. Mark Zuckerberg, who is also Meta’s largest shareholder, wants 2023 to be “the year of efficiency”<\/strong> and said on the conference call with analysts that he was looking to “remove some of the layers, some of the middle management positions to speed up decision making”.<\/em><\/p>\n <\/p>\n Reality Labs<\/strong>, the branch in charge of the development of the metaverse, thus posts losses of 4.3 billion dollars during the last quarter. It had already lost $3.7 billion in the third quarter, and $2.6 billion in the second.<\/p>\n <\/p>\n <\/p>\n Released after the close of trading Wednesday night, Meta’s results, while mediocre, still reassured shareholders. Meta’s stock jumped 19%<\/strong> in the hours that followed. In 2022, Meta’s share price had fallen by more than 60%, but it had begun to recover since November. Since the beginning of the year, the stock has gained nearly 23%<\/strong>. The market was expecting a more brutal fall for the Silicon Valley group, which has been struggling to achieve good results for a year.<\/p>\n <\/p>\n Another positive point of these annual results is that Meta has nearly 3 billion daily active users<\/strong> over the quarter on all its applications, an increase of 5%, with Facebook alone representing 2 billion active users.<\/p>\n <\/p>\n <\/p>\n Although Meta has unflattering numbers, luxury group L’Oreal<\/strong> is not letting go of its goal and deepening its relationship with the tech company. In October 2022<\/strong>, Meta launched a startup acceleration program in the metaverse, dedicated to creativity, in partnership with l’Or\u00e9al and the HEC incubator. The goal? To support French entrepreneurship in a virtual universe. The program is hosted at Station F, in the 13th arrondissement of Paris<\/strong>, where the social network has been housed since 2017. The first promotion, composed of five startups, was unveiled today. Kinetix, Yumon, Wilkins Avenue AR, ACID and V-Ar are the big winners.<\/p>\n <\/p>\n <\/p>\n The program provides coaching and support for six months. “The L’Or\u00e9al group also provides a form of mentoring, while facilitating collaborations with its brands”,<\/em>\u00a0says Capucine Tuffier<\/strong>, Public Affairs Manager at Meta France. This gas pedal is in addition to the luxury group’s experiments in the world of metavers in the service of beauty tech. Through its internal venture capital fund Bold (Business Opportunities for L’Or\u00e9al Development)<\/strong>, the brand had already taken a minority stake in the startup Digital Village in January, positioned on the NFT and metaverse markets.<\/p>\n <\/p>\n Will this Meta-l’Or\u00e9al alliance last?<\/p>\n <\/p>\n Read also >Rimowa x RTFKT : German craftsmanship meets the metaverse<\/a><\/p>\nMeta’s share price soars<\/h2>\n
L’Or\u00e9al and Meta, partners<\/h2>\n
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