Metaverse entity Reality Labs asked to cut spending over next few years

Odaily News Meta's Reality Labs, a metaverse entity focused on augmented reality and virtual reality (AR and VR) products and services, has been asked to cut spending in the next few years. According to The Information, the agency has been asked to cut spending by 20% from now to 2026, and most of the cost cuts are expected to take place this year. (Fortune)