Mark Zuckerberg's Metaverse is a flop – Here's how much it has cost
Mark Zuckerberg's investment in the Metaverse has resulted in significant financial losses, with Meta's Reality Labs reporting a deficit of approximately €70 billion over the past five years.
Meta Reduces Workforce in Virtual Reality Department.. Will It Abandon It?
Meta plans to lay off 10% of its Reality Labs workforce amid new strategic directions, affecting potentially up to 1500 employees as part of a first wave of layoffs.
More than 1000 positions: Meta cuts jobs in loss-making VR division
Meta is planning to cut about 10% of jobs in its unprofitable Reality Labs division, which was once considered the future of the company, as part of a shift towards artificial intelligence amidst significant financial losses.
Meta Plans to Cut 10% to 15% of Employees in Reality Labs Business
Meta is planning to reduce its workforce by 10% to 15% in the Reality Labs division.