Meta follows in Twitter footsteps and lays off 11,000 employees.
in its metaverse development branch. Reality Labs, the metaverse R&D department, posted a $3.67 billion loss for Q3.
During the same quarter, the business only made a revenue of $285 million, which is its lowest on record within the given timeframe. The newsfor over $44 billion, the social media company underwent a series of layoffs itself. Allegedly the layoffs began on Nov. 4, with speculations that Musk will lay off nearly 50% of the company’s 7,500-person workforce.
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