Mark Zuckerberg seems to be putting breaks on the vision he has been chasing since 2014, changed company’s name for and spent billions on …
Facebook-parent Meta is planning to cut 10% of its workforce in Reality Labs Division which is behind the Meta Quest headsets, Ray-Ban Smart Glasses and the virtual reality social network known as the Metaverse. Quoting people familiar with the development, a Bloomberg report says that the job cuts come as the company shifts priorities to build next-generation artificial intelligence (AI). It states that the latest job cuts may put breaks on Meta CEO Mark Zuckerberg’s long-chased vision of building virtual reality for the metaverse which started in 2014 with the acquisition of virtual reality start-up Oculus in 2014 for $2 billion. Another step in this direction came in 2021, when Facebook rebranded itself as Meta.
