Overview
- Layoff notices began Tuesday morning local time, affecting more than 1,000 employees and roughly a tenth of the unit, according to an internal memo.
- Meta is reallocating resources from VR and metaverse projects to AI-powered wearables and mobile features, with Horizon experiences moving to phones.
- A company spokesperson said savings from the shake-up will be reinvested to support wearables growth this year, while VR funding will be reduced but not halted.
- CTO Andrew Bosworth scheduled an in-person meeting for Wednesday that he called the most important of the year.
- Reality Labs has accumulated losses exceeding $70 billion since late 2020, and reports say VR headset and VR social networking teams face deeper cuts than AR and wearables.