On January 13, The New York Times reported that three well - informed employees from Meta Platforms (META.O) disclosed that Meta is contemplating downsizing a sub - team within its Reality Labs division, which is in charge of the 'metaverse' business. The job cuts might commence as soon as next month, and it is anticipated that 10% to 30% of the team's staff will be impacted.

This particular team is dedicated to VR headsets and social networking services based on VR technology. The Reality Labs division is composed of two main segments: the metaverse and wearable devices. Sources indicate that the management intends to reallocate the funds saved through these layoffs to the AR glasses project.

In 2021, Meta, in collaboration with Ray - Ban, launched AR glasses that have outperformed the company's sales projections. At present, Meta is re - evaluating its investment in the metaverse business, and executives in the metaverse division are considering substantial reductions in VR - related positions.