Meta may unwind metaverse initiatives with layoffs Michael Nagle\/Bloomberg\/Getty Images<\/p>\n He named the company after it, but it may not be long for this world.<\/p>\n Meta CEO Mark Zuckerberg is reportedly planning to \u201cmeaningfully cut\u201d the amount of resources going into building out the metaverse.<\/p>\n According to Bloomberg<\/a>, Meta may cut budgets \u201cas high as 30%\u201d for its metaverse unit, which spans the game Horizon Worlds and Quest virtual reality headsets.<\/p>\n If true, that would almost certainly mean layoffs. Those could come as soon as January, according to the report.<\/p>\n Where might Meta apply those savings? If you guessed \u201cAI,\u201d you win the prize. (If you guessed \u201cAI-powered wearables,\u201d you win an even bigger prize.)<\/p>\n Meta (then Facebook) moved quickly into the metaverse category in 2018 and put billions behind the effort the following year, predicting that it would become the next version of the Internet and seeking a first-mover advantage.\u00a0<\/p>\n But in the years since, few companies joined the fray, and AI emerged as that new interface for information. Zuckerberg has since entered that category with similar zeal.\u00a0<\/p>\n Now, it seems, it\u2019s time to sweep up. \u2014AN<\/p>\n Two top Apple execs retire<\/p>\n With so many departures at Apple lately, many observers are asking: Are there problems at Apple, or is the company suddenly finding solutions?<\/p>\n On Thursday the iPhone maker announced<\/a> that general counsel Kate Adams and policy chief Lisa Jackson will retire.\u00a0<\/p>\n Adams joined Apple from Honeywell in 2017 to oversee the legal aspects of security, privacy, and antitrust.\u00a0<\/p>\n Jackson, a former EPA administrator who joined Apple in 2013, focused on making the company\u2019s supply chain carbon neutral, among other things\u2014which led to, for example, the abandonment of leather device cases.<\/p>\n Jennifer Newstead, Meta’s former chief legal officer, will replace Adams, reporting to CEO Tim Cook. Newstead will also take over the government affairs portion of Jackson\u2019s role; the rest will be assumed by COO Sabih Khan.<\/p>\n The departures weren\u2019t unexpected. There has been much hand-wringing lately about the future of Apple\u2019s senior leadership team as its chief executive and his loyal lieutenants approach traditional retirement age.\u00a0<\/p>\n Though there is no mandatory retirement policy at Apple for anyone except board members (age 75), there has been a feeling among Apple-watchers that we\u2019re seeing a changing of the guard and the laying of a foundation that will one day lead to a new CEO. \u2014AN<\/p>\n 10 banks prepare to issue euro stablecoin<\/p>\n Ten European banks have agreed to partner to issue a euro-denominated stablecoin.<\/p>\n The coin will be cleared by Markets in Crypto-Assets Regulation, or MiCA, and issued in the second half of 2026.<\/p>\n There\u2019s a continental breakfast of big banks involved. Participating institutions\u2014shall we call them the Token Ten?\u2014include BNP Paribas, ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank, and Raiffeisen Bank International.<\/p>\n Why would the banks want to do such a thing? Two reasons.\u00a0<\/p>\n First, they want to see the coin become a trusted way to digitally pay for things in the region\u2014and to do that, they must work together.\u00a0<\/p>\n More importantly, they seek to create a viable European alternative in a stablecoin market dominated by U.S. interests.\u00a0<\/p>\n And, of course, there are the benefits of the stablecoin itself: low-cost, nearly instantaneous transactions, cross-border payments, 24\/7 uptime, et cetera\u2014all good things when time is money. \u2014AN<\/p>\n More tech<\/p>\n \u2014Amazon may kick USPS to the curb<\/a> in favor of its own distribution network.<\/p>\n \u2014Counterpoint to Meta poaching Apple\u2019s top designer:<\/a> Maybe it\u2019s better for both companies?<\/p>\n \u2014$6,800 AI hearing aids:<\/a> So hot right now among the well-heeled.<\/p>\n \u2014Microsoft Office subscription price:<\/a> Goin\u2019 up for commercial customers on July 1.<\/p>\n \u2014A new EU antitrust investigation<\/a>. EU watchdogs are concerned about Meta\u2019s AI assistant in WhatsApp.<\/p>\n \u2014OpenAI tests LLMs self-reporting<\/a> how they carried out a task. (In the words of Usher: These are my confessions\u2026)<\/p>\n \u2014Russia blocks FaceTime<\/a>, claiming that Apple\u2019s video communication service has been used to coordinate terrorism.<\/p>\n Endstop triggered Answer, from most to least dependent: Gen Z, Baby Boomers, Gen Z, and Millennials.<\/p>\n![\"Facebook](\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2025\/12\/GettyImages-1236189396.jpg\"\/)
<\/a>Facebook CEO Mark Zuckerberg adjusts an avatar of himself during a company event in New York City on Thursday, Oct. 28, 2021.\u00a0<\/p>\n![\"A](\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2025\/12\/GettyImages-1320808277.jpg\"\/)
<\/a>Illustration: MaksymChechel\/GettyImages<\/p>\n