Meta's AR and VR division reported $13.7 billion in operating losses in 2022 alone.
This detail comes just weeks after Meta added 10,000 more layoffs to its tally — cutting around 21,000 workers since November. A Meta representative declined to comment on the report.
Of course, these salaries are somehow small change in the grand scheme that is the cost of the metaverse. Meta’s Reality Labs division, the part of the Silicon Valley tech giant responsible for building out the company’s augmented and virtual reality products, reported $13.7 billion in operating losses in 2022 in its latest— somehow over $3 billion more than its operating losses in 2021.
Couple those losses with its lucrative advertising business getting hit hard by privacy changes from Apple and broader economic challenges, and the math is not quite adding up for Meta., the former Meta recruiter who spoke out on TikTok about getting paid a $190,000 salary “to do nothing,” said that Meta hired “so many people without the intention of them doing any work.
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