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Employees who will be let go will start getting official notices as early as Tuesday. The layoffs are predicted to impact about 10% of the team, which currently has around 15,000 people working there.
The company representative said, "Last year, we decided to move some of our money from the Metaverse to wearables. These job cuts are part of that plan, and we intend to use the money saved to help grow the wearables area this year."
Reality Labs is involved in making virtual reality headsets, smart glasses with AI, and other similar products. Since it started in 2021, the team has lost over $70 billion.
source: bloomberg.com
The company representative said, "Last year, we decided to move some of our money from the Metaverse to wearables. These job cuts are part of that plan, and we intend to use the money saved to help grow the wearables area this year."
Reality Labs is involved in making virtual reality headsets, smart glasses with AI, and other similar products. Since it started in 2021, the team has lost over $70 billion.
source: bloomberg.com