Facebook plans to hire 10,000 in European Union to build 'metaverse'

Facebook Inc plans to hire 10,000 people in the EU over the next five years

Facebook Inc plans to hire 10,000 in the European Union over the next five years, the social media giant said on Monday, to help build the so-called metaverse - a nascent online world where people exist and communicate in shared virtual spaces.

This would be a significant step the company is taking towards the concept, something top boss Mark Zuckerberg has touted in recent months.

In September, Facebook committed $50 million towards building the metaverse, where companies like Roblox Corp and "Fortnite" maker Epic Games have an early foothold.

The company earlier launched a test of a new virtual-reality remote work app where users of the company's Oculus Quest 2 headsets can hold meetings as avatar versions of themselves.

Facebook also said in July it was creating a product team to work on the metaverse which would be part of Facebook Reality Labs, its augmented reality and virtual reality group.

"This investment (in new jobs) is a vote of confidence in the strength of the European tech industry and the potential of European tech talent," the company said.

"Europe is hugely important to Facebook."