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In this photo illustration, the Facebook logo is seen on a smartphone screen with the EU flag in the background.
Chukrut Budrul | SOPA Images | LightRocket via Getty Images

LONDON — Facebook plans to create 10,000 jobs in the European Union over the next five years in a push to build a digital world known as the “metaverse.”

The social media giant said on Sunday it would hire high-skilled engineers in countries across the bloc. The company is focusing its recruitment drive on Germany, France, Italy, Spain, Poland, the Netherlands and Ireland.

“Europe is hugely important to Facebook,” Nick Clegg, Facebook’s head of global affairs, and Javier Olivan, vice president of central products, said in a blog post Sunday night.

“From the thousands of employees in the EU, to the millions of businesses using our apps and tools every day, Europe is a big part of our success, as Facebook is in the success of European companies and the wider economy.”

Facebook CEO Mark Zuckerberg outlined his vision for a metaverse in July. The metaverse is a term used to describe digital worlds in which multiple people can interact within a 3D environment.

Facebook recently unveiled what it called its first step into the metaverse — a work collaboration app where people hold meetings in virtual reality.

A number of other companies, including Microsoft, Roblox and Epic Games are investing heavily in their own versions of the metaverse.

“As we begin the journey of bringing the metaverse to life, the need for highly specialized engineers is one of Facebook’s most pressing priorities,” Clegg and Olivan said.

“We look forward to working with governments across the EU to find the right people and the right markets to take this forward, as part of an upcoming recruitment drive across the region.”

Still, the news arrives at a turbulent time for Facebook.

The company was the subject of a series of investigative reports by the Wall Street Journal which unveiled internal company research about the negative impact of its Instagram app on teenagers and exemptions for high-profile individuals from its rules.

Earlier this month, Frances Haugen, a whistleblower who leaked the internal documents, testified at a U.S. congressional hearing. Haugen accused company leadership of putting “astronomical profits before people,” a claim Zuckerberg subsequently dismissed as “just not true.”

Haugen and another Facebook whistleblower, Sophie Zhang, are both due to testify before the U.K. Parliament this month. EU lawmakers are also calling on Haugen to appear at a parliamentary hearing in November.

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Joby lawsuit accuses air taxi rival Archer of using stolen information to ‘one-up’ deal

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November 20, 2025

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Joby lawsuit accuses air taxi rival Archer of using stolen information to 'one-up' deal

An electric air taxi by Joby Aviation flies near the Downtown Manhattan Heliport in Manhattan, New York City, U.S., November 12, 2023.

Roselle Chen | Reuters

Air taxi maker Joby Aviation in a new lawsuit accused competitor Archer Aviation of using stolen information by a former employee to “one-up” a partnership deal with a real estate developer.

“This is corporate espionage, planned and premeditated,” Joby said in the lawsuit filed Wednesday in a California Superior Court in Santa Cruz, where the company is based.

Archer and Joby did not immediately respond to CNBC’s request for comment.

The lawsuit alleges that former U.S. state and local policy lead, George Kivork, downloaded dozens of files and sent some content to his personal email two days before he resigned in July to take a job at Archer, which had recruited him.

By August, Joby said a partner that worked with Kivork said it had been approached by Archer with a “more lucrative deal.” Joby alleges that the eVTOL rival’s understanding of “highly confidential” details helped it leverage negotiations.

Joby also said the developer attempted to terminate the agreement, citing a breach of confidentiality.

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Kivork refused to return the files when Joby approached him after conducting an investigation, according to the suit. The company also said Archer denied wrongdoing, and would not disclose how it learned about the terms of the agreement or provide results from an internal investigation it allegedly undertook.

The lawsuit comes during a busy period for electric vertical takeoff and landing (eVTOL) technology as companies race to gain Federal Aviation Administration certification to start flying commercially. ‘

The sector has also benefitted from President Donald Trump‘s newly minted eVTOL pilot program.

Joby argued in the complaint that it’s “imperative” to protect Joby’s work “from this type of espionage” to promote the sector’s success and ensure fair competition.

Last week, Joby said it completed its first test flight for a hybrid aircraft it’s working on with defense contractor L3Harris. This month, Amazon-backed Beta Technologies, another electric flight company, also went public on the New York Stock Exchange.

Joby shares have more than doubled over the last year, while Archer is up about 68%.

In August 2023, Archer settled a previous legal dispute with Boeing-owned Wisk Aero over the alleged theft of trade secrets. As part of the deal, Archer agreed to use Wisk as its autonomous tech partner.

A hearing is scheduled for March 20, 2026.

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Jobs data muddies the picture for a December rate cut, while the Nvidia rally fizzles

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November 20, 2025

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Jobs data muddies the picture for a December rate cut, while the Nvidia rally fizzles

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Bitcoin falls to lowest level since April

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November 20, 2025

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Bitcoin falls to lowest level since April

Andriy Onufriyenko | Moment | Getty Images

Bitcoin dropped on Thursday to levels not seen in more than six months, as investors appeared to pull back exposure to riskier assets and weighed the prospects of another Federal Reserve rate cut next month.

The flagship digital currency fell to as low as $86,325.81, its lowest level since April 21. It last traded at $86,690.11.

The release of stronger-than-expected U.S. jobs data raised questions about whether the central bank would lower its benchmark overnight rate. The U.S. economy added 119,000 in September, well above the 50,000 economists polled by Dow Jones expected.

That report sent the probability of a December rate cut to around 40%, according to the CME Group’s FedWatch tool.

Bitcoin’s pullback formed part of a broader cryptocurrency market decline. XRP was last down 2.3% on the day, and is below $2.00, while ether shed more than 3% to trade well below $3,000. Dogecoin was unchanged.

The world’s oldest crypto also led stocks lower, even after a blockbuster Nvidia earnings report. Traders who are heavily invested in AI-related stocks tend to also hold bitcoin, linking the two trades.

Bitcoin’s price has largely slid since a rash of cascading liquidations of highly leveraged crypto positions in early October.

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