Chinese e-commerce giant Alibaba Group Holding Limited (NYSE:BABA) recently made cuts to its metaverse division, Yuanjing, as part of a broader trend of tech companies scaling back their investments ...

Meta is reportedly planning massive budget cuts, potentially up to 30%, for its loss-making Metaverse division, Reality Labs. Following over $70 billion in losses, the company is shifting resources ...

Michael White, appointed to front Disney’s metaverse efforts, is exiting the company shortly after its decision to shut down its dedicated division earlier this year. In February 2022, the media ...

Maria Gracia Santillana is a NYC-based careers reporter. Meta handily beat Wall Street’s expectations for its Q2 results, but there was no joy in its metaverse division, which posted a ...

Mark Zuckerberg's bet on the metaverse continues to be a money-bleeding endeavor, with the unit reporting billions of dollars in losses every quarter. In 2021, Zuckerberg changed the name of his ...

After betting heavily on the metaverse—and spending many billions building it—Meta recently pivoted hard.

When Disney shut down its metaverse division on March 28, 2023, the end of the 50-person division was interpreted as doom for the metaverse, the over-hyped universe of virtual worlds that are all ...

Meta has announced that its social virtual world, Horizon Worlds, will shift toward a mobile-first experience, loosening its ties to the Quest virtual reality headset line. The decision, confirmed ...

More than 1,000 Meta employees — the ones who brought you the metaverse — are now looking for work. The company behind Facebook and Instagram laid off more than 1,000 employees from its Virtual ...

Meta said it's shifting focus for Horizon Worlds to be "almost exclusively mobile" and that it will separate its Quest VR ...

Just a few years ago, the company then known as “Facebook” rebranded to “Meta.” The bold move reflected a strong commitment to the metaverse technology. However, the firm is reportedly preparing to ...