Meta’s new layoff, what does it mean for the Metaverse?

Meta’s new layoff, what does it mean for the Metaverse?:

Meta just announced a cut of 10,000 employees, only a few months after the layoff of 13% of its staff, equivalent to 11,000 employees, as a result of its announcement to focus on efficiency of executing top priorities, which happens to exclude the Metaverse.

This series of events brings flashbacks to 10th March 2023, where Microsoft decided to shut down Altspace VR and consequently lay of 11,000 employees, as part of an effort for the Microsoft to advance in the Metaverse.

The question arises on whether this will affect the Metaverse or not.

It has grown too big at this point, having been largely adopted by numerous global brands such as NIKE and Amazon to be affected by incidents such as this. With many brands launching initiatives and creating experiences, the Metaverse can hold its own as a result of its vast userbase and growing investment.

We can only foresee more experiences to come to life and more users adopting the technologies involved.