Meta plans to significantly slim down the metaverse, with the budget possibly being cut by 30%

PANews, December 5—According to Bloomberg, Meta CEO Mark Zuckerberg plans to significantly cut the metaverse business budget, with reductions of up to 30%. Related layoffs may begin as early as January next year. The adjustment will mainly affect the Meta Horizon Worlds virtual world and Quest VR devices. The resources saved will be redirected to emerging projects such as AI glasses and wearable devices. Although Zuckerberg remains optimistic about the long-term potential of virtual worlds, Reality Labs has lost more than $70 billion since 2021. There is ongoing skepticism about Meta’s metaverse strategy, and the company is gradually shifting its focus to AI technology and hardware products.