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Metaverse vacancies down as FB, Apple, Google withdraw

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The metaverse is not yet on the agenda, but companies are already cutting back on hiring staff in the sector. that is according to to a report by Bloomberg, highlighting a survey by Revelio Labs, which found that job openings related to the “metaverse” declined by as much as 81% between April and June 2022.

That decline in metaverse job openings matches fears of an impending recession and one of the toughest quarters Big Tech has had in years. With the exception of a few big tech players, most tech heavyweights have recently posted disappointing gains. For many companies, lower revenues translate into hiring delays, freezes, or even layoffs.

Last month Meta CEO Mark Zuckerberg announced the company was said to scrap hiring plans due to “fierce” headwinds. Google is taking similar measures. Even Apple, which is outperforming most Big Tech players, is adjusting its workforce. Apple CEO Tim Cook said last week that the company would now hire employees in a more “deliberate way”.

What does this say about the nascent metavers? As of now, the metaverse is not a source of income for any major company and it is unknown how quickly consumers will move to metaverse platforms in the future. So companies need to slow down hiring, it makes sense that metaverse jobs are likely to take precedence over jobs that are essential to today’s revenue-generating products.

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