Meta Reportedly Plans To Slash Metaverse Budget By Up To 30%

Meta Reportedly Plans To Slash Metaverse Budget By Up To 30%

Meta May Slash Metaverse Budget by 30% Meta is reportedly considering a significant reduction in its Metaverse spending, according to a Bloomberg report citing anonymous sources. Executives are reportedly discussing cutting up to 30% of the virtual reality division’s budget. Any budget reductions could also lead to layoffs, reflecting a shift in Meta’s focus toward more profitable ventures. Credit: Hollie Adams/Bloomberg / Getty Images The potential cuts highlight the ongoing challenge Meta faces in convincing both consumers and investors of the Metaverse’s viability. Despite years of hype, engagement with products like Horizon Worlds remains limited, and the company’s VR hardware has struggled to gain mainstream traction. Investors Question Meta’s Metaverse Strategy Since Meta rebranded from Facebook in 2021, investors have closely scrutinized the company’s aggressive investment in the Metaverse. The division has been a significant financial drain, reportedly losing billions each quarter.…