Meta Platforms Inc. is a multinational technology conglomerate with its headquarters in California, USA. With an extensive repertoire of products and services, including Facebook, Instagram, and WhatsApp, Meta has established itself as a powerhouse in the tech industry. Meta is ranked among the world’s most valuable companies and holds a position among the Big Five American information technology companies, alongside Alphabet (Google), Amazon, Apple, and Microsoft.
Mid-march 2023, we reported a layoff at the company that affected 10,000 people, and led to the closure of an additional 5,000 open roles.
Meta has been dealt a substantial blow as the Data Protection Commission of Ireland imposes a staggering €1.2 billion (Euros) fine, citing serious violations of the General Data Protection Regulation (GDPR). The inquiry, initiated in August 2020 and subsequently halted by the High Court of Ireland, has concluded with significant findings against the tech conglomerate.
The investigation determined that Meta’s data transfers were in clear breach of Article 46(1) of the GDPR, which outlines the rules for international data transfers, prompting the Data Protection Commission to demand the suspension of such transfers.
To bring its operations into compliance with the GDPR’s Chapter V, Meta Ireland has been instructed to cease the processing and storage of personal data belonging to European Union/European Economic Area (EU/EEA) users in the US within six months of receiving the DPC’s decision.
Meta responded to the recent decision by the Data Protection Commission of Ireland, assuring users, advertisers, customers, and partners that Facebook’s services will remain unaffected in the immediate future. In a statement, Meta expressed its commitment to safeguarding user data and emphasized its intention to appeal both the decision’s content and the associated orders, which include a substantial fine.
