As we expected, Meta has begun laying off more than 1,000 employees from its Reality Labs division, which focused on virtual reality and metaverse products, Bloomberg reports. The company will refocus on developing wearables, like its recent batch of AI-powered Ray-Ban smart glasses, according to a memo from CTO Andrew Bosworth.The news isn’t too surprising. Reality Labs has lost more than $70 billion since the beginning of 2021, and while Meta has done a solid job of delivering desirable consumer VR headsets and smart glasses, that business hasn’t been nearly profitable enough to justify the cost. And of course, Mark Zuckerberg’s huge gamble on the metaverse, which involved renaming the company from Facebook to Meta in 2021, has gone nowhere.Developing… This article originally app [...]
Meta Connect, the company's annual event dedicated to all things AR, VR, AI and the metaverse is just days away. And once again, it seems like it will be a big year for smart glasses and AI.<b [...]
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Meta could be preparing for one of the largest layoffs in its history, according to a Reuters report. The tech giant is planning to cut about 20 percent of its workforce, according to the outlet' [...]
Meta is laying off more employees. Of the hundreds of cuts made on Wednesday, the Reality Labs division is one of the prime recipients. The layoffs come a day after news broke that Meta executives (sa [...]