Meta (META) lays off 1,500 people in Metaverse division, via WSJ

Meta (META) lays off 1,500 people in Metaverse division, via WSJ.

Meta's decision to lay off 1,500 employees in its Metaverse division signals a significant shift in its strategic focus, likely indicating challenges in achieving profitability in this area. This move raises questions about the overall health and future investments in the Metaverse, which could impact sentiment across tech stocks, especially in the interactive media sector. Investors will be watching closely for any further implications on Meta's long-term vision and its consequences for peers in this space.