Microsoft Layoffs Reportedly Hit Key VR and Metaverse Teams

Microsoft Layoffs Reportedly Hit Key VR and Metaverse Teams Microsoft Layoffs Reportedly Hit Key VR and Metaverse Teams  0

The latest round of layoffs at Microsoft, which announced it will cut 10,000 jobs this year, has hit key teams for its VR (virtual reality) and metaverse efforts, according to reports. The company will close two projects in these areas, Altspacevr and the Mixed Reality Tool Kit, potentially affecting the progress of Microsoft in these areas.

Microsoft VR and Metaverse Teams Hit by Layoffs

The latest round of layoffs announced by Microsoft on Jan. 18, has reportedly hit metaverse and VR (virtual reality) initiatives of the company, potentially affecting progress in these areas. Among the 10,000 jobs to be cut this year, representing 5% of Microsoft’s global workforce, teams behind initiatives like Altspacevr and the Mixed Reality Tool Kit are being axed as part of this reorganization process.

Altspacevr, which was acquired by Microsoft in 2017, has already announced it will sunset its platform on March 10. The platform, which was aimed at providing services to facilitate the creation of virtual environments for events with the participation of artists, creators, brands, and businesses, will migrate to Mesh, a more work-focused platform that has integration with Microsoft Teams.

The Mixed Reality Tool Kit, an open-source set of tools to build user interfaces for the metaverse will also ostensibly be abandoned, as there are no announcements of new teams dedicated to its development at the time of writing.

Metaverse and VR Slowdown

While the company justified these layoffs as a measure to align its cost structure with revenue and customer demand, some believe that these localized layoffs in the metaverse and VR sector signal the slowdown of the advancements of the company in this area.

The reported layoffs at Microsoft affect initiatives focused on the consumer metaverse primarily, following the course that Meta has taken by laying off 13% of its workforce, shedding 11,000 jobs.

However, the higher-ups at Microsoft are believers in the metaverse and other disruptive technologies, and the progress these will bring in the future. Recently, Satya Nadella, CEO of the company, stated that the sense of presence that metaverse tech can bring is game-changing.

Microsoft is also involved in the creation of the Global Collaboration Village — the metaverse world of the World Economic Forum (WEF) — and has shown interest in investing in AI (artificial intelligence) projects such as Openai, creators of AI bot Chatgpt.

Tags in this story ai, altspacevr, Chatgpt, layoffs, Metaverse, mixed reality tool kit, satya nadella, WEF

What do you think about the layoffs affecting metaverse and VR-focused teams at Microsoft? Tell us in the comments section below.

Microsoft Layoffs Reportedly Hit Key VR and Metaverse Teams  1 Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Microsoft Layoffs Reportedly Hit Key VR and Metaverse Teams  2 Davos 2023: WEF Unveils Global Collaboration Village Metaverse Platform METAVERSE | 4 days ago Microsoft Layoffs Reportedly Hit Key VR and Metaverse Teams  3 Shanghai Metaverse Pilot Introduces Digital Services in 20 Urban Locations METAVERSE | 6 days ago

Image Credits: Shutterstock, Pixabay, Wiki Commons

Previous article

Report: Crypto Adoption Hits New Milestones — Global Crypto Owners Reached 425 Million in 2022

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimerShow comments

More Popular News

In Case You Missed It

Microsoft Layoffs Reportedly Hit Key VR and Metaverse Teams  4

Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments

The National Securities Commission (CNV), which is the Argentinian securities watchdog, recently launched an innovation hub with the goal of advancing conversations about cryptocurrency and fintech investments. This organization will serve as a link between private entities and the institution, … read more.

Goldman Predicts US Recession Odds at 35% in 2 Years, John Mauldin Wouldn’t Be Surprised if Stocks Fell 40% Australia to List Bitcoin ETF After 4 Clearinghouse Participants Commit to Meet Stringent Margin Terms Fed’s Bullard Wants to Raise Bank Rate to 3.5% by Year’s End, Hints at 75 Basis Point Rate Hike FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms


Updated: 01/24/2023 — 03:00

Leave a Reply

Your email address will not be published. Required fields are marked *

Btc news © 2021 Frontier Theme