An earlier report indicated that Meta was cutting its metaverse budget by 30%.

Meta is accelerating its pivot away from virtual reality, just over four years after changing its name.

Meta Platforms Inc. is beginning to cut more than 1,000 jobs from the company’s Reality Labs division, part of a plan to redirect resources from virtual reality and metaverse products toward AI ...

Meanwhile, CTO Andrew Bosworth has urged workers in the division to attend in-person meeting, said to be "most important" of ...