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Meta to Cut About 10% of Reality Labs Workforce as Metaverse Push Scales Back

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Meta Platforms plans to cut around 10% of employees in its Reality Labs division, according to a report by the New York Times citing three people familiar with the discussions. The layoffs, which could be announced as soon as Tuesday, are expected to fall disproportionately on teams working on metaverse-related products, including virtual reality headsets and virtual social platforms.

Reality Labs employs roughly 15,000 people and has been at the center of Meta’s long-running bet on the metaverse, an immersive digital universe championed by Chief Executive Mark Zuckerberg. Since 2020, the division has burned more than $60 billion, as heavy investment failed to translate into mass adoption or meaningful revenue.

Beyond the metaverse, Reality Labs is responsible for several of Meta’s hardware initiatives, including Quest mixed-reality headsets, smart glasses developed in partnership with EssilorLuxottica under the Ray-Ban brand, and longer-term augmented reality glasses. While Meta has struggled to sell its broader vision of interconnected virtual worlds, its smart glasses have shown early traction—an area where rivals such as Google and Apple have so far failed to gain momentum with initial products.

According to the report, Meta Chief Technology Officer Andrew Bosworth, who oversees Reality Labs, has scheduled an in-person staff meeting for Wednesday and urged employees to attend, citing an internal memo.

Meta declined to immediately comment on the report. The planned cuts come as the Facebook parent faces growing pressure to refocus resources while trying to regain ground in Silicon Valley’s artificial intelligence race. Meta has recently struggled to generate enthusiasm around its latest AI efforts, including the Llama 4 model, adding to investor scrutiny over spending priorities.

Jeju Island in South Korea Introduces NFT-Backed Visitor Cards to Appeal to Young Travelers

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Jeju Island, a renowned self-governing province in South Korea, is reportedly set to integrate non-fungible tokens (NFTs) into its tourism framework to attract a younger demographic. According to a recent report by South Korean publication Maeil Kyungjae (MK), the island’s authorities are planning to launch a digital visitor card initiative powered by NFTs. This innovative project is slated to begin in 2025 and aims to enhance the travel experience by offering exclusive benefits to tourists through blockchain-backed solutions.

The NFT-based visitor cards are expected to roll out during the latter half of 2025, providing a host of advantages for travelers. These digital cards will grant users special discounts at major tourist attractions, membership perks, and travel subsidies for domestic visitors. By leveraging blockchain technology, Jeju Island seeks to create a more engaging and modern tourism model that resonates with tech-savvy travelers and younger audiences familiar with digital assets.

This initiative reflects Jeju Island’s broader strategy to remain a competitive global tourism destination while embracing emerging technologies. The move to adopt NFTs for visitor engagement aligns with a growing trend of integrating blockchain into various industries, including travel and hospitality. By offering tangible benefits through NFTs, the island hopes to strengthen its appeal as a forward-thinking destination while simultaneously supporting its local economy.

As Jeju Island prepares to implement this program, it highlights the potential for NFTs to go beyond collectibles and serve practical purposes in daily life. This initiative not only showcases the versatility of blockchain technology but also signals a shift in how traditional tourism can adapt to digital innovation. By blending cutting-edge tech with its natural beauty and cultural richness, Jeju Island aims to create a unique experience for its visitors.

What’s Next for Meta’s Metaverse?

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In October 2021, Mark Zuckerberg redefined the trajectory of his social media empire by rebranding Facebook as Meta, signaling a shift in focus toward the emerging metaverse. The move marked a strategic pivot for the trillion-dollar company, aiming to showcase its ambitions beyond being a social networking platform.

“The company Facebook wanted to make clear that it was more than just that one social website,” said Leo Gebbie, principal analyst and director at CCS Insight.

The Vision Behind the Metaverse

Zuckerberg’s vision of the metaverse isn’t new; it dates back to 2014, when Facebook acquired Oculus, a virtual reality (VR) headset developer, and launched Reality Labs. The company sought to position itself as a leader in immersive technologies, banking on the rapid growth of the global gaming and VR markets, which saw revenue exceed $193 billion during the pandemic.

“There was a bit of a sense in 2020 and into 2021 that this was a technology that was ready, that it was finally going to hit the big time,” Gebbie noted.

In December 2021, Meta launched Horizon Worlds in the U.S., a virtual reality platform designed as an open-world social space. While the platform’s initial target was to reach 500,000 monthly active users by the end of its first year, Zuckerberg’s long-term ambition was much grander: he envisioned the metaverse hosting one billion users by the end of the decade, engaging in significant e-commerce activity worth “hundreds of dollars” per user annually.

Challenges and Setbacks

Despite lofty ambitions, the metaverse has struggled to deliver on its promises. By late 2022, Horizon Worlds had just 200,000 monthly active users, according to an internal report cited by The Wall Street Journal. Interest in the concept of the metaverse itself waned sharply, as reflected by declining search trends on Google post-2022.

Additionally, Meta’s Reality Labs has faced steep financial losses, amassing $58 billion in operating deficits since 2020. These challenges have cast doubt on the metaverse’s feasibility and its capacity to generate sustainable user growth.

Bright Spots: Augmented Reality (AR)

While the metaverse has yet to gain significant traction, Meta has found success in augmented reality. Its partnership with Ray-Ban on AR glasses has demonstrated potential, offering consumers a taste of the future of wearable technology. These developments suggest that while the metaverse vision might be faltering, AR could represent a more pragmatic near-term focus for the company.

Looking Ahead

As the concept of the metaverse fades from the forefront of public discourse, Meta faces an uphill battle to turn its bold vision into reality. To achieve long-term success, the company must address its user engagement challenges, refine its product offerings, and manage escalating financial losses.

Meta’s next steps may involve recalibrating its strategy to emphasize augmented reality and exploring partnerships that can complement its ecosystem of immersive technologies. The company’s ability to innovate and adapt will determine whether it can revive the metaverse or pivot toward more achievable goals.