Meta begins job cuts as it shifts to AI devices.

Meta has begun cutting jobs while shifting resources away from metaverse projects and toward AI devices.

Meta has begun job cuts as it shifts focus from the metaverse to AI devices. The metaverse was an expensive initiative that involved developing high-end VR headsets and digital avatars. The company invested heavily expecting competition that did not materialize. The metaverse has not developed as chief executive Mark Zuckerberg envisioned after renaming Facebook to Meta in 2021. What is reported: - Meta has begun job cuts as it redirects effort toward AI devices. - The company spent heavily on metaverse hardware and digital features, including high-end VR headsets and avatars. - The metaverse effort did not produce the level of market uptake or rivalry the company anticipated. Summary: The company is reallocating resources away from large metaverse investments and toward development of AI devices. The immediate impact includes begun job cuts and a strategic shift in priorities. Undetermined at this time.