The CEO said he expects to "gradually reduce" how much money the company is losing as it doubles down on AI glasses and shifts away from virtual reality. "I expect Reality Labs losses this year to be similar to last year, and this will likely be the peak, as we start to gradually reduce our losses going forward." The company cut more than 1,000 employees from Reality Labs earlier this month, shut down three VR studios and announced plans to retire its app for VR meetings. Zuckerberg has spent the last few years laying the groundwork for pivoting Meta's metaverse work into AI. He offered one example if what the means for Meta’s Horizon app.