US EditionMeta Stock Rises: What's Going On Behind The Scenes? - Meta Platforms (NASDAQ:META)
Meta cuts about 1,000 jobs, roughly 10% of Reality Labs staff, after $70 billion losses since 2021, shifting focus to AI-powered wearables to improve sustainability.
6 Articles
6 Articles
Is Zuckerberg's Metaverse ending? Meta decimates staff, sours on VR.
Mark Zuckerberg's Metaverse may not be the next big thing after all.It hasn't been that long since the Metaverse was the place to be, with celebrities like Snoop Dogg saying he would start a new record label and social media giants the Nelk Boys promising fans exclusive experiences.Several sources are reporting that Reality Labs, Meta's division that works on virtual reality headsets, smart glasses, and wristbands, is dumping around 10% of its w…
Meta Prepares To Fire 1,500 Employees As Metaverse Dreams Fade
[Image: Easy Peasy AI] Mark Zuckerberg’s dream of humanity frolicking around in virtual reality worlds has come crashing down as Meta announced that it plans to fire 1,500 employees from its Reality Labs division as it shifts its investment away from metaverse products. Meta Inc. will cut 10% of employees associated with the division, which includes Meta’s hardware and other futuristic efforts like VR headsets, AI glasses and virtual world produ…
After losses estimated at $70 billion, Meta's Reality Labs division in charge of the metaverse announces a massive lay-off plan and a reorientation of its resources to connected objects. What does that mean? L-article After $70 billion in losses, Meta abandons its project of metaverse appeared first on Cryptoast.
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