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Meta may be planning to make serious cuts to its Metaverse division, Bloomberg reported<\/a>, citing anonymous sources.<\/p>\n Company executives are mulling slashing the virtual reality platform\u2019s budget by up to 30%, the report said, adding that any reductions would also include layoffs. <\/p>\n If Meta does go ahead with such a plan, the move would reflect the overall lack of interest in products like Meta\u2019s social virtual reality platform Horizon Worlds, as well as its virtual reality hardware \u2014 both in the industry at large, as well as among consumers.<\/p>\n Since Meta\u2019s rebrand<\/a> in 2021, investors<\/a> have been skeptical<\/a> of the company\u2019s allocation of resources to Metaverse projects, which lose billions of dollars each quarter. The company\u2019s efforts in AI and smart glasses have been more successful, though investors still worry that its investment plans are too steep<\/a>.<\/p>\n Meta\u2019s shares rose<\/a>, however, following this report.<\/p>\n Meta did not immediately respond to a request for comment.<\/p>\n