Meta Plans Metaverse Budget Cuts in Shift to AR Glasses

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Social media giant Meta is reportedly planning to scale back its metaverse spending by up to 30% and redirect the funds into virtual reality glasses and artificial intelligence.

No final decision has been made yet, but budget cuts and possible layoffs are on the table for Meta’s Reality Labs division, mainly aimed at its virtual reality unit, which eats up the bulk of metaverse-related spending, Bloomberg and The New York Times reported on Thursday.

The budget cuts could come as early as January, but Meta plans to redirect resources to a Reality Labs…



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Meta Plans Metaverse Budget Cuts in Shift to AR Glasses


Social media giant Meta is reportedly planning to scale back its metaverse spending by up to 30% and redirect the funds into virtual reality glasses and artificial intelligence.

No final decision has been made yet, but budget cuts and possible layoffs are on the table for Meta’s Reality Labs division, mainly aimed at its virtual reality unit, which eats up the bulk of metaverse-related spending, Bloomberg and The New York Times reported on Thursday.

The budget cuts could come as early as January, but Meta plans to redirect resources to a Reality Labs…



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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