Meta is set to cut 10% of its Reality Labs workforce, totaling around 1,500 employees. This decision reflects a shift towards artificial intelligence development amid significant financial losses of over 70 billion USD since 2020.
The company is gradually reducing its metaverse budget, with plans to redirect funds to enhance its AI initiatives. Despite the low user adoption of metaverse projects, CEO Mark Zuckerberg remains optimistic about future growth.
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