(ANSA) – MILAN, MAY 13 – Cuts in sight for the Reality Labs division of Meta, which is also involved in developing devices and programs for the metaverse. As reported by Reuters, Andrew Bosworth, Chief Technology Officer of Meta, would have announced to its employees that the company does not have the resources to work on all the planned initiatives. Reality Labs is fundamental for Meta’s ambitions to launch into the new era of the internet, where augmented and virtual reality viewers will allow you to interact with others for both playful and professional purposes. The Reality Labs hub cost Meta $ 2.9 billion in the first quarter of 2022 and $ 3.3 billion in the final quarter of 2021. Zuckerberg told investors in an April conference that the company would ” slowed the pace “of some of its investments. Just yesterday, the CEO showed a quick demo of “Project Cambria”, the first viewer designed specifically for the metaverse, with functionality to switch between 3D and a clear view of the surrounding environment. AR glasses called “Project Nazare”, coming from the laboratories, are also expected, not before 2023. Reality Labs is not the only division for which Meta is trying to reduce costs. In a note released by Business Insider in early May, we read of how the giant has blocked hiring, leading to concerns among many employees. Meta has lowered its total expenses forecast for 2022, from an estimated 90-95 billion dollars to a real 87-92 billion dollars. (HANDLE).
I have been working in the news industry for over 10 years now and I have worked for some of the biggest news websites in the world. My focus has always been on entertainment news, but I also cover a range of other topics. I am currently an author at Global happenings and I love writing about all things pop-culture related.