Meta scales back metaverse spending following reports of cutting budget by up to 30% [FOX Business Network]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: FOX Business Network
Meta is dialing back its metaverse ambitions and redirecting resources toward AI-powered glasses and wearable technology, the company told FOX Business on Thursday. The shift follows reports that Meta could slash as much as 30% from its metaverse group, an area CEO Mark Zuckerberg has previously touted as the company's future. While the tech giant did not confirm specific figures, the company said adjustments would take place within Reality Labs, its division responsible for augmented- and virtual-reality projects. "Within our overall Reality Labs portfolio, we are shifting some of our investment from the metaverse toward AI glasses and wearables given the momentum there. We aren't planning any broader changes than that," a Meta spokesperson told FOX Business. According to Bloomberg , the 30% proposed reductions are part of Meta's 2026 budget planning, and cuts of this magnitude could include layoffs as early as January. Ticker Security Last Change Change % META
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META
Earnings
- 10/29/25 - Miss
META
Sec Filings
- 12/4/25 - Form 4
- 12/3/25 - Form 4
- 12/2/25 - Form 144
- META's page on the SEC website