Jeremy Corbyn to Step Down as Labour Party Leader.
The socialist leader made the announcement on Friday.
After the Labour Party lost a number of seats to the Conservatives in the U.K. General Election.
The Conservative Party was projected to win 357 of the 650 seats in the British Parliament, according to Prime Minister Boris Johnson.
Corbyn said he will not lead the party into another election, but he will remain for a “process of reflection.”.
It was the Labour Party's second General Election defeat under Corbyn.
U.S. President Donald Trump celebrated the win for the Conservatives on Twitter.
Looking like a big win for Boris in the U.K.!
, Donald Trump, via Twitter