Meta reportedly plans to slash Metaverse budget by up to 30%

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Meta may be planning to make serious cuts to its Metaverse division, Bloomberg reported, citing anonymous sources.

Company executives are mulling slashing the virtual reality platform’s budget by up to 30%, the report said, adding that any reductions would also include layoffs.

If Meta does go ahead with such a plan, the move would reflect the overall lack of interest in products like Meta’s social virtual reality platform Horizon Worlds, as well as its virtual reality hardware — both in the industry at large, as well as among…



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Meta reportedly plans to slash Metaverse budget by up to 30%


Meta may be planning to make serious cuts to its Metaverse division, Bloomberg reported, citing anonymous sources.

Company executives are mulling slashing the virtual reality platform’s budget by up to 30%, the report said, adding that any reductions would also include layoffs.

If Meta does go ahead with such a plan, the move would reflect the overall lack of interest in products like Meta’s social virtual reality platform Horizon Worlds, as well as its virtual reality hardware — both in the industry at large, as well as among…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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