Home Technology Meta plans to decrease the financial airfoil for its Metaverse

Meta plans to decrease the financial airfoil for its Metaverse


Unfortunately no doubt for Meta, the very physical reality is often much more restrictive than the all-virtual Metaverse. After investing $13 billion in its Metaverse (which also includes development around its VR headsets) in just over a year, the company headed by mark zuckerberg would be preparing to drastically reduce the financial wing of the Reality Labsthe division of Facebook dedicated to VR/AR activities.

Andrew Bosworththe CTO (Chief Technology Officer) from Meta, would have warned the Reality Labs teams that big changes would be announced within a week. Reuters understands that no layoffs would be scheduled, but the division’s budget would be reduced, which could impact future projects for VR headsets and AR glasses. In addition, Reality Labs should also put a brake on its program of hiring specialists in the sector.

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The reduction in investments would be substantial since Meta would go from a budget of 90 to 95 billion dollars to a range of 87 to 92 billion dollars. It must be said that Meta is going through a rather bad patch, between the drop in the number of Facebook users, the losses of the Reality Labs division (a hole of 3 billion dollars in Q1 2022), the multiplication of antitrust proceedings and the fall advertising revenue due to the privacy policy implemented on Apple’s iPhone/iPad.

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