Meta plans to cut 10% of jobs in its Reality Labs division as part of a refocusing strategy that will see Meta redirect funding from some VR products to new wearable AI gadgets.
Meta plans to cut 10% of jobs in its Reality Labs division as part of a refocusing strategy that will see Meta redirect funding from some VR products to new wearable AI gadgets.
Sources say the layoffs are expected this week, Bloomberg reports , but the company declined to comment.
Late last year, CEO Mark Zuckerberg tasked executives with finding ways to cut costs at the Reality Labs division, which includes cutting funding for some of the company's virtual reality and metaverse products.
Reality Labs employs about 15,000 people. The division, which combines the development of VR headsets, AI glasses and metaverse products, has been losing billions of dollars every quarter for the past few years. The company is investing in products that are not yet generating significant revenue.
A year ago, more than 3,000 Meta employees were laid off due to poor performance. At the time, Zuckerberg said he was determined to raise the bar in performance management.
These fired “underperforming” Meta employees then fought back against Zuckerberg on LinkedIn to assert their value in the job market.
