According to Bloomberg, Meta (formerly Facebook) is considering cutting the budget for its metaverse division by as much as 30% next year. According to sources, these budget cuts have not been finalized yet but will affect projects related to Meta's Quest virtual reality headsets and its social platform Horizon Worlds.

Over the past few years, Meta has invested billions of dollars in building the metaverse, especially after rebranding, which more clearly defined its direction in this area. However, as CEO Mark Zuckerberg gradually shifts the company's focus toward developing an artificial intelligence superintelligence, Meta's metaverse plans have been affected. Recently, the company also added former Apple user interface designer Alan Dye, who will be responsible for the design of "hardware, software, and artificial intelligence integration."

According to reports, Zuckerberg has asked Meta executives to "generally cut 10% of expenses" in the annual budget planning, with even stricter requirements for the metaverse department, hoping for more spending reductions. The reason is that Meta has not seen the expected level of industry competition and therefore believes deeper adjustments are needed for this department.

In addition, Meta may start laying off employees in its metaverse division starting in January next year. Nissa Anklesaria, a Meta spokesperson, told The New York Times that the company's Reality Labs investment will shift from the metaverse to artificial intelligence glasses and wearable devices to adapt to market changes. Although the spokesperson emphasized that the company does not plan for broader changes, it still shows a cautious attitude towards metaverse investments.

According to Bloomberg, since early 2021, the Reality Labs department has lost over $70 billion, and Meta's recent financial reports also show that the losses in this department continue.

Key points:

🌐 Meta is considering cutting its metaverse budget by up to 30% next year, affecting the Quest and Horizon Worlds projects.

📉 Zuckerberg has asked the metaverse department to make stricter spending cuts, reflecting a decline in expectations for industry competition.

🔄 The company's investment focus will shift to artificial intelligence glasses and wearable devices, with plans to lay off employees in the metaverse department.