Microsoft management fires part of the developers of the metaverse

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Microsoft is going to lay off more than 10,000 people in 2023 as part of a company reorganization. That’s roughly 5% of the American tech giant’s entire workforce.

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Teams working on projects such as the Mixed Reality Tool Kit and Altspacevr will be cut. The platform of the latter will be closed on March 10. Projects working on the creation of mixed reality tools and API creation tools for the metaverse will also be closed.

Microsoft’s rationale for the layoffs is that the corporation needs to align its cost structure with revenue and consumer demand. At the same time, according to the message, the layoffs will mainly affect projects in the metaverses and VR, as it is planned to continue to recruit employees to work in other key areas.

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The changes will cost the company about $1.2 billion, which will be used to pay severance pay, purchase new equipment and related expenses. The Corporation undertakes to provide medical insurance to departing employees within six months after the dismissal.

Earlier, Microsoft management spoke positively about the technology of the metaverse, noting that it will play an important role in the development of the Internet and interaction between people.

Source: Bits

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