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Meta Shifts Resources from Metaverse to AI Devices
Summary: Meta Platforms (META.O) announced the layoffs of over 1000 employees in its Reality Labs division, as part of a strategic shift from virtual reality (VR) and metaverse products to artificial intelligence (AI) wearable devices and mobile functions, according to Jinshi. Chief Technology Officer Andrew Bosworth sent out an internal notice stating that employees would start ...
Meta Platforms (META.O) announced the layoffs of over 1000 employees in its Reality Labs division, as part of a strategic shift from virtual reality (VR) and metaverse products to artificial intelligence (AI) wearable devices and mobile functions, according to Jinshi. Chief Technology Officer Andrew Bosworth sent out an internal notice stating that employees would start receiving layoff notices from Tuesday morning. Foreign sources report that this round of layoffs will affect approximately 10% of the around 15,000 employees in Reality Labs. A Meta spokesperson stated, 'Last month, we mentioned shifting some investments from the metaverse to wearable devices. These layoffs are part of that strategy, and we plan to reinvest the saved resources to support the growth of our wearable business this year.'
