Meta is planning new layoffs and will lay off thousands of employees this week, according to sources familiar with the matter.
Metaverse projects are considered one of the most exciting and innovative areas of technology development today.
The concept of the metaverse has been around for decades, with science fiction books and movies becoming popular as a virtual world where people can interact and live their lives. However, recent advances in technology have made it possible to create fully realized metaverse experiences that blur the lines between virtual and physical reality.
Among the most well-known supporters of Metaverse is Facebook’s parent company Meta, which has recently changed its brand. The company has made significant investments in the development of virtual and augmented reality technologies, which it believes will be an important part of the future of the metaverse. Meta has already launched many products in this space, such as the Oculus VR headset and the Horizon Workrooms platform that allows people to collaborate in virtual reality .
However, unfortunately, global inflation and recession concerns also hit giant companies. Meta, on the other hand, is at the top of the list of companies that make layoffs.
Focusing on the Metaverse, Meta will continue to cut headcount
Meta, the owner of Facebook and Instagram, is planning new layoffs and will lay off thousands of its employees this week, according to sources familiar with the matter.
Meta, one of the world’s largest technology companies, is parting ways with more employees, as well as a 13 percent decrease in the number of employees in November, in an effort to become a more efficient organization. In previous rounds of cuts, Meta had laid off 11,000 workers in its first major layoff. The company is also working on tidying up its organization, Bloomberg reported in February