Meta closes Ready At Dawn, the studio behind Echo VR

One report in mid-July said that Meta was cutting its Reality Labs division’s budget by 20% by 2026, and an internal memo sent to Meta employees by Gio Hunt, VP Oculus Studios — seen by Android Central — supports this reasoning. A Meta spokesperson told Android Central that the cuts weren’t being made to “save money,” per se. Rather, these cuts are being made to ensure that Reality Labs stays within the new budgetary constraints and that Oculus Studios can make a “better long-term impact” in VR development.