Meta's recent layoffs followed months of waning revenue growth amid high inflation

The fines concern breaches relating to GDPR regulations

The firm was ordered to stop transferring data from European users to its US servers

The matter has also been reported to gardaí

The Irish-based Data Protection Commission (DPC) imposed the fine last November 25th on Meta Platforms Ireland Limited - owner of Facebook, Instagram and Whatsapp - after inquiring into media reports that a “collated” set of Facebook personal data was uploaded onto an online forum.

Leo Varadkar said he remains positive about the longer-term prospects for the tech sector

Meta shares jumped 6 per cent following the news

The Southampton player and his club have called for action.

Global Witness submitted ads that used extreme and violent language to three social media companies for approval.

Last year's layoffs were the first in Meta's 18-year history

Coveney indicated the overall message from the technology sector in the US was an optimistic one in spite of large companies such as Google and Twitter making cuts to their staff in Ireland in recent months.

A number of major firms are making cuts

The messaging platform has been directed to bring its EU data processing operations into compliance within a six-moth period

LinkedIn's Sharon McCooey said that the phenomenon of 'quiet quitting' may not be as widespread as people think.

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The Irish arm of IT giant Meta has gone to court over a decision by the Data Protection Commission to fine it €405 million

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The Taoiseach said the government is monitoring the performance of big tech firms.

The penalty related to the discovery of a collated dataset of Facebook personal data that had been made available online.

New accounts show that Meta Platforms Ireland Ltd — formerly Facebook Ireland Ltd — enjoyed the surge in profits as revenues increased by 29pc or €11.7 billion from €40.6 billion in 2020 to €52.3 billion last year — more than average of €1 billion per week in revenues.

Chief economist at the Department of Finance John McCarthy said corporate taxes could reach €22 billion this year

Hundreds of jobs are due to be lost in Ireland after tech giants Twitter and Meta and others announced layoffs this week.

Leo Varadkar told ministers that the series of tech sector job cuts should be viewed as ‘downsizing’ and not a crisis.

Founder Mark Zuckerberg has accepted responsibility for the job losses and pointed to several factors behind the need for cost cutting at the firm.

The announcement will impact some of the 3,000 Meta employees in Ireland, a company spokeswoman confirmed.

Meta Platforms will begin laying off employees on Wednesday morning, Chief Executive Mark Zuckerberg told hundreds of executives on Tuesday

Ireland has a strong pipeline of investments from multinationals and expects many positive announcements in the coming months, Varadkar said

Despite recent lay-offs from the likes of Twitter and Stripe as well as expected redundancies in Facebook’s parent company Meta later this week, some experts suggest the 'tech bubble' is not bursting yet.

Facebook's parent company's planned cuts could affect thousands.

It comes as the rapper, who has legally changed his name to Ye, continues to face a backlash for antisemitic comments he has made on social media.

A statement from parent company Parlement Technologies said it has entered into an agreement in principle for the rapper to acquire the site.

Data Protection Commissioner Helen Dixon said the long-running criticisms are ‘becoming old news’.

The Meta-owned platforms have banned Mr Tate for violating their policies on dangerous organisations or individuals.

The parents of the schoolgirl who died in Malaysia took action against Meta and one of its users