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Meta Cutting Metaverse By 30%
Description
Meta Platforms stock jumped after Bloomberg reported that Mark Zuckerberg is preparing major cuts to the company’s metaverse ambitions. Executives have reportedly discussed slashing Reality Labs’ budget by up to 30 percent, a division that has already lost more than $70 billion since late 2020. These cuts could include layoffs and would directly impact Meta’s virtual reality efforts, including the Quest headset line and Ray-Ban/Oakley smart glasses. This comes as Meta evaluates strategy for 2026 while investors push for profitability outside the metaverse. Bloomberg reported this morning, and traders reacted instantly.
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