This post was originally published on this site
Tech giant Meta may have made an impressive number of promises in setting up its Metaverse as the future of the internet, but the company is now scaling back its ambitious investments. Meta announced 30% budget cuts to its Metaverse projects, providing no clear indications of why this was a necessary choice for the company at this stage. The decision is expected to affect the company’s Reality Labs unit, emerging as a part of the company’s strategy to revise its annual budget for the coming year. Meta is no stranger to layoffs, having hired fervently before similarly cutting jobs with