August 24, 2022
By Anjali Kochhar
New monthly job openings across all industries having the keyword “metaverse” in the title declined 81% between April and June, according to new research conducted by Revelio Labs.
A Bloomberg report noted that the dropoff coincides with a broader pullback across the tech sector, which has prompted layoffs and hiring freezes, leaving workers from the Bay Area to Bangalore increasingly rattled.
Meta Platforms Inc. had slowed hiring in May but said it was picked back up in recent months.
“After temporarily pausing hiring for certain roles at the company, we’re excited to resume it again for some of our highest priority areas,” spokeswoman Andrea Beasley told Bloomberg.
Google and Apple representatives did not respond immediately to a request to comment.
As employers recalibrate their hiring needs and labour budgets amid growing recession concerns, that hype might come face to face with a sobering reality.
Meta’s CEO Mark Zuckerberg said on Meta’s July 27 earnings call that he’s “slowing the pace of long-term investments due to the revenue shortfall.”
Apple, an emerging rival of Meta’s in the virtual-reality space, said July 28 that it would be “more deliberate” in its recruitment. Alphabet has also slowed hiring.
While full-time metaverse jobs have come down in numbers, the number of freelance gigs for metaverse-related services like avatar development and 3D design has more than quadrupled, as per freelance talent marketplace Fiverr International Ltd.
About the author
Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.