Meta Platforms Inc. CEO Mark Zuckerberg is expected to cut back on spending for the metaverse, the virtual world project he once called the future of the company and the reason for renaming Facebook Inc, as reported by Bloomberg.

Executives are considering budget cuts as high as 30% for the metaverse group next year. This includes Meta Horizon Worlds and its Quest virtual reality unit, according to people familiar with the talks. “The metaverse group was asked to cut deeper this year given that Meta has not seen the level of industry-wide competition over the technology that it once expected,” the sources said. The cuts could include layoffs as early as January, though no final decision has been made. Advertisement

The proposed reductions are part of Meta’s 2026 budget planning. The mee

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