Meta lays off 10% of Reality Labs division, shifts focus from metaverse to wearables
By
Stevie Bonifield
Crisped on the outside, thoughtful enough on the inside.
Summary
Meta is laying off around 10% of its Reality Labs division (approximately 1,000 employees) as part of a strategic shift from metaverse investments toward wearables. The company plans to reinvest the savings from these layoffs to support the growth of its wearables business, particularly highlighting the success of its Ray-Ban smart glasses over VR headsets.
Key quotes
· 3 pulledWe said last month that we were shifting some of our investment from Metaverse toward Wearables. This is part of that effort, and we plan to reinvest the savings to support the growth of wearables this year.
Around 10 percent of Meta's Reality Labs division, which develops its XR products and services, will be laid off beginning on Tuesday.
Meta's Ray-Ban smart glasses have stolen the spotlight from its VR headsets in recent years, especially with last year's launch of the Meta Ray-Ban.
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