Mark Zuckerberg is not stepping down as Meta CEO: This is what the company has to say

Meta recently laid off more than 11,000 employees which were 11% of the company’s total workforce. The Facebook parent noted that the step was taken to cut discretionary spending. Following this, a media report claimed that CEO Mark Zuckerberg would himself step down from the post next year. However, a spokesperson has termed the report ‘false.’
Replying to a tweet which contained the original story of Zuckerberg stepping down as the CEO of the company in 2023, Meta spokesperson Andy Stone said the news “is false.”

What does the report say?
A report in The Leak claimed that the pressure has been mounting on the top executive over the future of the company due to heavy investment in metaverse — Zuckerberg’s multi-billion dollar project. The project is the reason why the company saw significant losses over the last two years. The report also claimed that Zuckerberg’s resignation “will not affect the metaverse.”

Reality Labs operating losses
Last month, Meta CFO Dave Wehner noted that the company is not giving up on the metaverse project despite it having suffered huge losses in the last two years. Reports suggest that Meta lost about $10 billion in 2021 and it has lost over $9 billion in 2022 so far.
Reality Labs lost $3.7 billion in Q3 2022. The executive also said that Reality Labs’ operating losses in 2023 will grow significantly year-over-year.
Meta Quest Pro and Meta Quest 3
Recently, Meta CEO Mark Zuckerberg confirmed that the company will launch the next-generation Quest in 2023. Company CFO Whener also noted that the company’s “next generation of the consumer Quest headset” will launch “later next year. Reality Labs is a Meta-owned business that produces virtual reality and augmented reality hardware and software, including virtual reality headsets such as Quest. Meta also launched its next-generation Quest Pro mixed reality headset.

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