PANews reported on December 4th, citing Bloomberg, that sources familiar with the matter revealed that Meta Platforms Inc. CEO Mark Zuckerberg is expected to significantly cut resources to its metaverse business, which he saw as the company's future and the reason for renaming it Meta. Executives have discussed cutting the budget for the metaverse division (including the virtual world product Meta Horizon Worlds and its Quest virtual reality division) by up to 30%. If the cuts are that large, it could lead to layoffs as early as January.PANews reported on December 4th, citing Bloomberg, that sources familiar with the matter revealed that Meta Platforms Inc. CEO Mark Zuckerberg is expected to significantly cut resources to its metaverse business, which he saw as the company's future and the reason for renaming it Meta. Executives have discussed cutting the budget for the metaverse division (including the virtual world product Meta Horizon Worlds and its Quest virtual reality division) by up to 30%. If the cuts are that large, it could lead to layoffs as early as January.
Meta plans to cut the Metaverse project budget by up to 30%.
PANews reported on December 4th, citing Bloomberg, that sources familiar with the matter revealed that Meta Platforms Inc. CEO Mark Zuckerberg is expected to significantly cut resources to its metaverse business, which he saw as the company's future and the reason for renaming it Meta. Executives have discussed cutting the budget for the metaverse division (including the virtual world product Meta Horizon Worlds and its Quest virtual reality division) by up to 30%. If the cuts are that large, it could lead to layoffs as early as January.
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