A man takes pictures in front of a sign showing logo of Meta outside Facebook headquarters on October 28, 2021 in Menlo Park, California.
Leaders from Meta's metaverse division are reportedly gathering next week for a summit at the company's Menlo Park headquarters.
  • Meta's metaverse division is scheduled to gather for a multi-day summit next week, Command Line reported. 
  • The division, also known as Reality Labs, is reportedly also canceling projects, Command Line said.
  • Reality Labs lost $13.7 billion in 2022 and posted a fourth-quarter loss of more than $4 billion. 

Meta is barreling ahead in its "year of efficiency" with full force.