Meta Platforms plans to provide more details to its employees this week about how it will realize its vision for the metaverse.
The company is encouraging staff to tune in to an all-hands meeting on Tuesday, according to two current employees, one of whom said they were told that a major announcement would be made.
In a post on Meta’s internal messaging system, the chief operating officer of Instagram, Justin Osofsky, wrote that the company plans to offer more information about how it will build the metaverse, covering both product and culture, one of the people said. The metaverse is a type of immersive intrenet in which people can interact in virtual reality environments wearing Meta headsets.
The meeting follows a tumultuous period in which Meta’s stock plunged after the company forecast slow growth in its advertising business. Meta also reported $10 billion in losses from its Reality Labs division, which is building the augmented and virtual reality products central to the metaverse.
Meta did not respond to requests for comment.