Meta reportedly shuttered a VR studio, cut funding for some third party developers
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Meta Platforms (NASDAQ:META) has reportedly closed one internal virtual reality studio and cut funding for some outside app developers, which resulted in staff cuts and delayed projects for app developers that were hired by the tech giant.
According to a report from The Information, citing a person with direct knowledge of the matter, a Dutch company called Monks halved its team of 100 people that were dedicated to mixed reality and virtual reality projects for Meta, including building new “worlds” for Meta’s Horizon Worlds app.
The report said Paris-based startup Atlas V, which makes games such as “Wallace & Gromit in The Grand Getaway” and an accompanying title, “Jamtastic!,” halved its teams that produce content for Meta after the social media giant suspended new funding this year, the source told The Information.
A Meta spokesperson reportedly said the company intends to spend more on developer funding this year than last year but declined to provide details about how that funding was being allocated.