Microsoft has laid off its industrial metaverse team consisting of around 100 employees. The team was focused on creating metaverse features in industrial settings.
Microsoft is the next big tech company to cut plans for the Metaverse. The company announced that it was shutting down the Industrial Metaverse team that it formed about four months ago. About 100 employees were reportedly laid off. This particular Metaverse team is called the “Industrial Metaverse Core” and focuses on industrial environments. In particular, it aims to build interfaces for operational control systems in power plants, robotics and transport networks, reports The Information.
Microsoft is one of several high-profile tech companies to carry out layoffs. Other companies in this category include Google, Amazon, Salesforce, and Meta. These actions have convinced some that the Big Tech era is over. Still, big tech companies continue to make significant strides in technology development. Microsoft is at the heart of ChatGPT, a revolutionary artificial intelligence service that it funds. The company recently announced the integration of ChatGPT into its Edge browser.
Microsoft’s decision to shut down the Metaverse team is interesting because it shows enthusiasm for the niche. A HoloLens mixed reality device has been in the works for years, although there’s no indication it will be a commercial success. Company executives also described the importance of the industry as we move into an increasingly digital world.
Microsoft CEO Satya Nadella himself spoke about the benefits of the Metaverse. Of course, acquisitions of companies like Altspace VR and the continued acquisition of Activision Blizzard point to the Metaverse strategy. However, Microsoft announced its decision to shut down the former last month.
Microsoft Joins Meta in Leaving the Metaverse
Other companies have also lowered their Metaverse-related ambitions. Meta announced it would shut down Crayta, which it bought less than two years ago.
The company also shut down Echo VR, a Metaverse game that was popular in its ecosystem. Meta is also on an acquisition spree and wins a lawsuit against the FTC. Meta can now buy Within, which the FTC considers an anticompetitive practice.