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Reports Says, Mark Zuckerberg is Resigning from Meta’s CEO Next Year

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Mark Zuckerberg Resigns : Social media platforms and other giant tech companies are going through their ‘bad’ phase these days. Meanwhile, a news related to Meta created a worldwide sensation. On 22 November 2022, some reports claimed that Mark Zuckerberg Resigns would resign from his post next year. Although Meta has denied this news.

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Mark Zuckerberg Resigns : CEO of this company

Mark Zuckerberg is the CEO of Meta, the company that owns Facebook, Instagram and WhatsApp. Meta’s spokesperson has told in a tweet that the news of Zuckerberg’s resignation is wrong. The Leaks had informed that in the year 2023, Mark Zuckerberg Resigns will resign from his post. The report cited anonymous sources.

11 Thousand employees Laysoffs

Meta has been struggling with revenue and advertising for some time now. The company has recently fired 11,000 employees. This information was given by Mark Zuckerberg himself. The company had asked to lay off employees citing cost overruns.

According to the reports, the people whom Meta has removed from the company. He will be given an additional salary of four months. Twitter has fired a large number of employees before Meta.

Twitter has also laid off employees

As soon as Twitter was acquired, Elon Musk fired many people including CEO Parag Agarwal, Chief Finance Officer Ned Segal and Policy Head Vijaya Gadde. At the same time, similar reports are coming about Amazon and Google. It is believed that soon a large number of people may be laid off from these two companies.

Mark Zuckerberg Resigns : Layoff after 18 years

Facebook started in the year 2004, which has now become Meta. For the first time in 18 years, the company has faced a situation where thousands of people have lost their jobs. According to the reports, the number of people working in Meta is around 87 thousand.

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Company’s Shares Falling Continuously

Meta’s stock is continuously falling and this has had a bad impact on the market cap of the company. Meta’s stock has fallen by 73% this year. In the last one year, Meta’s stock is on the verge of reaching the floor.

The company’s share price was at $338 at the beginning of November last year. Which reached $ 88.91 in early November this year. However, Meta’s share price has increased amid the news of Mark Zuckerberg’s resignation. At the time of writing the news, Meta’s share price was up 1.58 percent at $111.44.

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