Meta Reportedly Plans Deep Metaverse Budget Cuts
Synopsis
According to a Bloomberg report, Meta executives are likely considering cuts as large as 30% for 2026.
- The reduction could involve layoffs and target both the Meta Horizon Worlds platform and the Quest VR unit.
- The metaverse division has been asked to take a deeper cut.
Meta Platforms Inc. (META) is reportedly planning substantial budget reductions for its metaverse division, signaling a shift away from the vision that once defined the company’s identity change from Facebook Inc.
According to a Bloomberg report, executives are considering cuts as large as 30% for 2026.
Resource Cut Impact
The reduction could involve layoffs and target both the Meta Horizon Worlds platform and the Quest VR unit, said the report. The metaverse division has been asked to take a deeper cut, as the anticipated competition and widespread adoption of virtual worlds have not materialized as predicted.
Following the report, Meta’s stock traded over 6% higher in Thursday’s premarket.
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