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META denies allegations that Mark Zuckerberg is stepping down as CEO

META deny claims Mark Zuckerberg is resigning?as?CEO

Meta officers have denied rumors that billionaire Mark Zuckerberg is contemplating stepping down as the corporate’s CEO.

Insiders had instructed The Leak that the 38-year-old had determined to step down as head of Meta, the dad or mum firm of Fb and Instagram.

They are saying the choice “will not have an effect on” the Metaverse, Zuckerberg’s multi-billion greenback digital actuality mission that has price the corporate at the least $30 billion.

However Andy Stone, a company communications supervisor, tweeted on Tuesday, Nov. 22, “That is flawed.”

The claims got here after Mr Zuckerberg was compelled to make ‘troublesome’ adjustments to his enterprise.

Buyers and analysts have blamed the corporate’s downfall on Zuckerberg and different executives who centered on the metaverse, which has but to garner sufficient consideration.

The social media large’s share costs are actually down nearly 70% from a 12 months in the past, however had been trending greater after the report.

The identical stories present the division made $5.3 billion in income in 2021, with $30.7 billion in losses since funding started in 2019.

In an announcement shared with staff Nov. 9, the CEO defended a call to chop Meta’s workforce by 11,000.

He mentioned: “In the present day I am sharing a few of the hardest adjustments we have made in Meta’s historical past.

“I’ve determined to cut back the dimensions of our group by roughly 13% and let over 11,000 of our gifted staff go.

“We’re additionally taking a lot of further steps to change into a leaner, extra environment friendly enterprise by lowering discretionary spending and lengthening our hiring freeze by way of the primary quarter.

“I wish to take accountability for these selections and the way we bought right here. I do know it is troublesome for everybody, and I am particularly sorry for these affected.”

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