Jobs in the metaverse are disappearing as Google and Facebook slow hiring

USA: Employment in the metaverse is declining, according to workplace research firm Revalio Labs. According to Revlio, new monthly job postings with "Metaverse" in the title declined 81% across all industries between April and June, rising in the months since Facebook's rebranding last fall.

The decline comes at the same time as a widespread slowdown in the tech industry, which has led to layoffs and hiring freezes and leaves employees moving from Bangalore to the Bay Area that is increasingly uncomfortable.

Meta Platforms reported that hiring slowed down in May but resumed recently. Speaking on behalf of the company, spokeswoman Andrea Beasley said, "We are excited to resume recruitment in some of our top priority areas after being temporarily put on hold for certain roles." The business, which added more than 5,700 net new employees in the second quarter, is looking to expand its workforce by hiring experts in areas such as graphics, machine learning and artificial intelligence.

Requests for comment by Google's parent company, Apple and Alphabet, were not immediately responded to, and both companies are involved in the development of immersive digital technologies.

Meta CEO Mark Zuckerberg's big bets on virtual reality and other emerging, immersive technologies could result in "short-term hype from the demand side," according to Revelio Labs economist Jin Yan. That hype may now clash with a grim reality as employers re-evaluate their hiring needs and labor budgets amid concerns of a growing recession.

On Meta's earnings call on July 27, Zuckerberg said the lack of revenue was the reason he was "slowing down the pace" of long-term investments. On July 28, Apple, an emerging competitor to Meta in the virtual reality market, announced that it would be "more deliberate" in its hiring practice.

Alphabet, which has avoided making broad predictions about the future of the Internet but is making rapid strides in areas such as augmented reality, has also slowed recruitment.

According to freelance talent marketplace Fiverr International, the number of freelance gigs for Metaverse-related services like avatar development and 3D design has more than quadrupled, while finding full-time Metaverse jobs has become more difficult

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