On Tuesday, rumors about Mark Zuckerberg’s impending departure as CEO of Meta, a billionaire company, circulated on social media and in Silicon Valley. The 38-year-old has reportedly decided to resign as the CEO of Meta, the parent company of Facebook and Instagram, according to sources in the know.
A Meta representative, in response to a tweet that included a link to a story about Zuckerberg’s intention to stand down as CEO, refuted rumors on social media. In response, Andy Stone from Meta’s communications department said, “It is false”
More than 11,000 employees were let go by the firm earlier this month in “the most challenging adjustments we’ve ever made at Meta,” according to Zuckerberg. He claimed that the layoffs affected its research lab that focuses on the metaverse as well as its apps, which include Facebook, Instagram, and WhatsApp, and that they constituted 13% of the social media giant’s employees.
A number of significant companies have announced huge layoffs due to the severe downturn in the tech sector; the previous week, Twitter’s new owner, Elon Musk, sacked most of his workers.
