Microsoft lays off Metaverse team
The Metaverse seems to be on ice at Microsoft for now.

The Metaverse appears to be on ice at Microsoft for now. The tech giant continues to trim jobs in VR development.
Microsoft has slashed its Metaverse division, according to media reports. About 100 employees were laid off from the research division. The focus was on developing industrial Metaverse applications.
The team "Industrial Metaverse Core" specifically worked on developing interfaces for operating control systems in power plants, robotics, and transportation networks. After just four months, the team has now been disbanded.
Besides Microsoft, other big tech firms like Meta and Alphabet have also been trimming staff en masse in recent months. Investments in Metaverse development by Meta and co. are becoming increasingly controversial.