META'S ZUCKERBERG PLANS DEEP CUTS FOR METAVERSE EFFORTS

Summary from the TLDR newsletter

Meta is expected to meaningfully cut resources to the metaverse project, an effort once framed as the future of the company. Executives are considering potential budget cuts as high as 30% for the metaverse group next year. This will likely include layoffs. The savings are expected to funnel towards other projects within Meta's Reality Labs division.