Meta Confirms Reality Labs Layoffs and Shifts to Invest More in Wearables
Meta's Reality Labs Division Cuts 10% of Staff Amid Metaverse Development
Meta's Reality Labs division, which focuses on developing the company's XR products and services, has announced layoffs affecting around 10% of its staff. The news was confirmed by Meta spokesperson Tracy Clayton in a statement to The Verge.
The layoffs are part of a broader shift in Meta's investment priorities, with the company opting to focus more on wearables. This decision was made public last month, and the Reality Labs division is now undergoing significant changes to reflect this new direction.
The layoffs are expected to have a significant impact on the Reality Labs division, which has been working on various projects related to the metaverse. However, the company's focus on wearables is seen as a strategic move to stay competitive in the rapidly evolving tech landscape.
Background on Reality Labs
Reality Labs is a key division within Meta, responsible for developing the company's XR products and services. The division has been working on various projects, including the development of augmented reality (AR) glasses and other wearables.
Impact on the Metaverse
The layoffs and shift in investment priorities are likely to have a significant impact on the metaverse, a concept that Meta has been actively promoting. The metaverse is a virtual world where users can interact with each other and digital objects in a highly immersive and interactive environment.
Reaction from Industry Experts
Industry experts have been reacting to the news, with some expressing concern about the impact of the layoffs on the metaverse. Others have welcomed the shift in investment priorities, seeing it as a necessary step for Meta to stay competitive in the wearables market.
Conclusion
Meta's Reality Labs division has announced layoffs affecting around 10% of its staff, as part of a broader shift in investment priorities. The company is now focusing more on wearables, a move that is seen as a strategic step to stay competitive in the rapidly evolving tech landscape.
Sources
[3] Meta confirms Reality Labs layoffs and shifts to invest more in wearables