Meta (Facebook), led by Mark Zuckerberg, has announced the mass layoff of 11,000 employees. Is the future bleak for the Metaverse or Virtual worlds?

The co-founder and CEO of Meta (formerly known as Facebook) announced today that they would have to lay off 13% of their workforce, which is more than 11,000 employees.

I have decided to reduce the size of our team by approximately 13% and lay off more than 11,000 of our talented employees. We are also taking a number of additional steps to become a more agile and efficient company by reducing discretionary spending and extending our hiring freeze through the first quarter. I want to take responsibility for these decisions.

Mark Zuckerberg.

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