By Ben Otto 
 

Facebook Inc. is planning to create 10,000 jobs in the European Union over the next five years to build a virtual realm its sees as a key component of its future and a major driver of new technology investment.

The U.S. social media giant said Sunday that it would embark on a recruiting drive for highly skilled workers in the region to help build a "metaverse," an online realm where users engage with each other using technologies including virtual and augmented reality.

Facebook said in a blog post that the investment "is a vote of confidence in the strength of the European tech industry and the potential of European tech talent."

"As we begin the journey of bringing the metaverse to life, the need for highly specialized engineers is one of Facebook's most pressing priorities," it said.

Facebook Chief Executive Mark Zuckerberg laid out his vision for the metaverse over the summer, describing it as a successor to the mobile internet that would be a major driver of new technology investment. The company last month unveiled plans to invest $50 million to develop the virtual space, noting that parts of it could take 10-15 years to fully develop.

 

Write to Ben Otto at ben.otto@wsj.com

 

(END) Dow Jones Newswires

October 18, 2021 01:33 ET (05:33 GMT)

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