Report: Instagram Eliminates Management Layer, 60 Technical Program Manager Roles Instagram has reportedly told 60 technical program managers that they must find another job at the company or be let go in two months.
The Meta -owned social networking app is eliminating a management layer as part of its parent company's ongoing efforts to boost efficiency, Seeking Alpha reported Friday (Jan. 12), citing a paywalled article by The Information.
Instagram also reorganized its product teams to focus on three areas in its Sharing product group, including supporting content creators focused on a teen audience, according to the report.
Reached by PYMNTS, a Meta spokesperson declined to comment on the report.
Meta announced in March that it planned to lay off 10,000 employees after cutting 11,000 jobs in November 2022, while also freezing hiring on another 5,000 roles that had been open.
The cuts are part of a restructuring plan that includes flattening Meta's organizations, canceling lower priority projects, slowing hiring rates and reducing the size of the recruiting team, Meta CEO Mark Zuckerberg said in a March 14 post on the company's website addressing "Meta's Year of Efficiency."
"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 the post. "Higher interest rates lead to the economy running leaner, more geopolitical instability leads to more volatility, and increased regulation leads to slower growth and increased costs of operation. Given this outlook, we'll need to operate more efficiently than our previous headcount reduction to ensure success."
In other recent news around Instagram, it was reported in November that Meta has unveiled a feature that enables Instagram and Facebook users to connect their accounts with Amazon for a seamless shopping experience . This feature aims to keep users within the apps while making purchases on Amazon.
Also in November, Meta introduced new tools to help creators on its platforms, including Instagram, generate revenue. Meta also updated its subscriptions for both Instagram and Facebook creators. At the time, the company reported that there were more than 1 million active subscriptions to Instagram creators, with Meta recently adding subscriptions in 35 new countries.
Dave & Buster's Launches Arcade Betting as Wagers Gain Popularity With the proliferation of betting apps bringing gambling into more parts of consumers' lives, now even Skee-Ball is getting the Las Vegas treatment.
Restaurant and entertainment center chain Dave & Buster's has partnered with gaming technology firm Lucra to add "gamification software" to its app for loyalty program members.
"This new partnership gives our loyalty members real-time, unrivaled gaming experiences, and reinforces our commitment to continuing to elevate our customer experience through innovative, cutting-edge technology," Dave and Buster's SVP of Entertainment and Attractions Simon Murray said in a news release .
A CNBC report notes that the news release from Lucra avoids the language of betting and wagering, preferring to call it "real-money contests or challenges" (per COO Michael Madding), operating under different regulations than a gambling operator.
By offering betting opportunities such as these, and especially by making them exclusive to rewards program members, companies can keep consumers financially engaged, driving spending and loyalty.
"You're going to see a lot more incentives to move your money around in an ecosystem. I'm at the table, I win money, it goes in my app, I can then bet on the game while I'm at dinner, then I can come back and move it back to the table. I see that as a trend," Drew Edwards , CEO of Ingo Payments , told PYMNTS' Karen Webster in an interview last year.
While sports betting has always been big business in the U.S. — though confined to off-track establishments, bookies or casinos — it has entered the mainstream market due to in large part several states' legalization of online sportsbooks and in turn to its extension to more parts of consumers' lives.
With the rise of online betting platforms and mobile apps, betting has become more accessible to a broader audience. People can now place bets from their smartphones or computers, eliminating the need to visit physical betting locations.
For many consumers, betting is not just about winning money but also about entertainment. Placing bets adds excitement and suspense to watching events unfold, whether it's a pro sports game or, in this case, a Hot Shots arcade basketball game.
With betting options now reaching beyond traditional sports betting into new categories, more consumers who may not be interested in putting money on the big game are getting into this risky endeavor. Consumers are wagering on outcomes ranging from political events to entertainment awards to even reality television shows or weather patterns.
One study from betting app Sparket found that 60% of Gen Z respondents would wager on reality television, while just 50% would bet on traditional sports. That said, the study's sample size only included 81 respondents.
"People will place a bet on 'Will we have rainfall?', or 'How much snow will a certain place get?', or 'What will be the first day of snowfall?'" sports policy expert John Holden, JD/PhD, associate professor at Oklahoma State University, told Fox 5 NY last year.
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