Techcrunch Meta Cuts Metaverse Budget and Lays Off Reality Labs Staff
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Meta is reportedly planning to reduce its Metaverse budget by up to 30% and lay off 10% of its Reality Labs staff, which could impact over 1,000 employees. This decision follows significant financial losses in the virtual reality sector, with Reality Labs posting a $4.2 billion loss in early 2025. The company is also shutting down several studios involved in VR development.
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