Zuckerberg plans deep cuts for metaverse efforts

METAPLATFORMS'S MARK Zuckerberg is expected to meaningfully cut resources for building the so-called metaverse, an effort that he once framed as the future of the company and the reason for changing its name from Facebook.

- KURT WAGNER

Executives are considering potential budget cuts as high as 30% for the metaverse group next year, which includes the virtual worlds product Meta Horizon Worlds and its Quest virtual reality unit. Cuts that high would most likely include layoffs as early as January, though a final decision has not yet been made.