Tencent BytedanceTwo Chinese tech giants are reportedly planning to make a number of reductions in their metaverse departments. Tencent It acknowledged that it is making changes to some employees amid rumors about a bunch of layoffs at its long-actuality division. Bytedance Furthermore, there are plans to reduce the staff of Pico, its subsidiary for metaverse headsets.

Tencent Bytedance According to reports, they are cutting back on employees who focus on the metaverse

Tencent BytedanceTwo of the most important Chinese tech companies are allegedly about to carry out a large number of job cuts in their metaverse improvement groups. Tencent, which is best known for its software program business, is currently abandoning its plans to enter the metaverse {hardware} market, affecting a whole bunch of firm workers.

According According to local media, over 300 staff were informed by the corporate that they needed to be looking for new jobs and that the long-actuality division, which was devoted to the production of metaverse products, could be disbanded. The firm confirmed that it was making personnel changes since its plans had modified, however dominated out the thought of ​​the aforementioned group disbanding.

Tencent Had been involved in a dedicated metaverse ring controller but the initiative was abandoned due to huge funding needed for its construction and unfavorable outlook for its profitability. The Sources acknowledged

Under The brand new method of the corporate is a complete, it’s now not quite match.

Bytedance Examining issues

Bytedance’s Pico, the headphone {hardware} division of the metaverse, is also facing similar issues and plans to cut a whole bunch of jobs. According The South China Morning PostThese layoffs are expected to cause 30% loss in some departments of the company, and may result in lower-level jobs for others.

The Firm just launched its latest offering Pico sequence in an effort to gain a foothold. Asian markets. The Launch was profitable. Studies showed that 15% of VR headset sales were owned by the corporate, compared to almost 85% held by the management. Meta’s choices. Henry ZhouFounder and CEO of PicoThey also acknowledged that they expected to sell more than 1,000,000 headphones.

These studies come during a worldwide push for giant firms to reduce their efforts in manufacturing metaverse-based {hardware} software program, decreasing bills within the area. Microsoft and MetaTwo Western Tech giants have also taken similar actions.

Microsoft It is closing down a number metaverse-focused groups as part of its spherical delaying 10,000 workers. Meanwhile, MetaAfter taking a 13% final 12-month payroll,, which predicted it would continue to lose cash in the metaverse in 2023 is now planning one more round of layoffs.

What Do you think the brand-new metaverse-related layoffs are worth your attention? Tencent Bytedance? Tell Please leave a comment below.

sergio goschenko

Sergio Is a crypto journalist based in Venezuela. He He describes himself as someone who was late to the game, but got into the cryptosphere at the time when the value spike took place. December 2017. With A background in computer engineering, currently residing in Venezuela Being impacted by the rise in cryptocurrencies on a social level, gives me a unique perspective. In regards to the success and how he helps the underbanked and unbanked.

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