Chinese e-commerce giant Alibaba Group Holding Limited (NYSE:BABA) recently made cuts to its metaverse division, Yuanjing, as part of a broader trend of tech companies scaling back their investments ...

Meta is reportedly planning massive budget cuts, potentially up to 30%, for its loss-making Metaverse division, Reality Labs. Following over $70 billion in losses, the company is shifting resources ...

Michael White, appointed to front Disney’s metaverse efforts, is exiting the company shortly after its decision to shut down its dedicated division earlier this year. In February 2022, the media ...

When Disney shut down its metaverse division on March 28, 2023, the end of the 50-person division was interpreted as doom for the metaverse, the over-hyped universe of virtual worlds that are all ...

Maria Gracia Santillana is a NYC-based careers reporter. Meta handily beat Wall Street’s expectations for its Q2 results, but there was no joy in its metaverse division, which posted a ...

Meta has announced that its social virtual world, Horizon Worlds, will shift toward a mobile-first experience, loosening its ties to the Quest virtual reality headset line. The decision, confirmed ...

Mark Zuckerberg's bet on the metaverse continues to be a money-bleeding endeavor, with the unit reporting billions of dollars in losses every quarter. In 2021, Zuckerberg changed the name of his ...

More than 1,000 Meta employees — the ones who brought you the metaverse — are now looking for work. The company behind Facebook and Instagram laid off more than 1,000 employees from its Virtual ...

Meta’s Reality Labs is set for cuts as the firm’s metaverse budget continues to decline amid push toward artificial intelligence development. Meta is reportedly set to lay off around 10% of staff from ...

After betting heavily on the metaverse—and spending many billions building it—Meta recently pivoted hard.