Meta's Reality Labs Faces Major Spending Cuts Amid Financial Losses

Cost-cutting measures aim to save $3 billion as Meta shifts focus towards AI and regulatory challenges.

Meta plans to reduce Reality Labs' budget by 20% over the next few years.
The division has already incurred losses of over $55 billion since 2019.
Layoffs and spending cuts are part of a broader strategy to curb financial drain.
Some of the saved funds may be redirected towards Meta's AI initiatives.
Meta's shift comes as it faces increasing regulatory scrutiny in the AI sector.