It seems like Meta is not having the best of times. The company was crowned as the “worst company” of 2021 late last year, and we recently saw that Facebook lost over 1 million daily active users for the first time in its history. Now, reports suggest that it might have to shut down its most popular social platforms, Facebook and Instagram, in Europe.
A recent annual report filed by Meta (formerly Facebook) reveals that if the company doesn’t comply with the recent European Union regulation of storing European users’ data, it would have to shut down Facebook and Instagram in the region.
Now, it is possible that Meta and the European Union might mutually agree on a solution, going forward. This is something, which Meta expects. In a statement to London-based CityM newspaper, Meta’s VP of Global Affairs and Communications, NMick Clegg, said, “We urge regulators to adopt a proportionate and pragmatic approach to minimize disruption to the many thousands of businesses who, like Facebook, have been relying on these mechanisms in good faith to transfer data in a safe and secure way.“
