Facebook plans to rebrand company to focus on metaverse: Report

According to a report in The Verge, social media giant Facebook is planning to rebrand itself with a new name next week in an effort to showcase its focus on building the metaverse.

The report added that CEO Mark Zuckerberg plans to talk about a change in the name at Facebook's annual Connect conference slated for October 28.

Earlier this week, Facebook announced plans to hire 10,000 people in the European Union over the next 5 years to build the metaverse.