Meta is set to lay off 10% of staff from its Reality Labs division to focus on artificial intelligence. The division has around 15,000 employees, with 1,500 expected to be cut. Meta has been reallocating funds from the metaverse to AI and wearables, like the Meta Neural Band.

Meta, formerly Facebook, has lost over $70 billion on Reality Labs since 2020. The metaverse has failed to reach mainstream adoption, with platforms like Roblox dominating the market. Despite cooling off on the metaverse, CEO Mark Zuckerberg remains optimistic about its growth potential, calling 2025 a pivotal year for the industry.

Read more at Cointelegraph: Meta Plans To Cut 10% Of Metaverse Division