![[US] Meta makes 10% job cuts in Reality Labs division](http://gpa.net/cdn/shop/articles/bigstock-Meta-Company-Headquarters-Glas-476317191_1_aa28bf33-f42e-41bc-87cc-c1227ec48001_1200x.jpg?v=1769127171)
In the US, Meta (formerly Facebook) has announced that it has laid off 10 per cent of staff (around 1,500 people) from its Reality Labs division, The Wall Street Journal reports.
Reality Labs is home to Meta’s virtual and augmented reality projects.
The Wall Street Journal (WSJ) reported Meta’s plans to make budget cuts to teams working on ‘the metaverse’ - something Chief Executive Mark Zuckerberg once called the future of the company - to redistribute spending to the development of AI glasses.
“We said last month that we were shifting some of our investment from Metaverse toward Wearables,” a Meta spokesman said. “This is part of that effort.”
Mr Zuckerberg is now reportedly focused on thinning the population of the metaverse group after the tech failed to gain the traction Meta had anticipated.
A year after a name change away from its Facebook origins and a change of product focus, WSJ reporting revealed that the company’s flagship metaverse product, Horizon Worlds, was failing to catch on. It had fewer than 200,000 monthly active users, with the majority of its“worlds” entirely untroubled by visitors, and its presentations became memes and punchlines.
Meta has been gradually shifting focus away from the metaverse ever since and pivoting towards AI, the industry’s new obsession.
Source: The Wall Street Journal
(Links and quote via original reporting)
In the US, Meta (formerly Facebook) has announced that it has laid off 10 per cent of staff (around 1,500 people) from its Reality Labs division, The Wall Street Journal reports.
Reality Labs is home to Meta’s virtual and augmented reality projects.
The Wall Street Journal (WSJ) reported Meta’s plans to make budget cuts to teams working on ‘the metaverse’ - something Chief Executive Mark Zuckerberg once called the future of the company - to redistribute spending to the development of AI glasses.
“We said last month that we were shifting some of our investment from Metaverse toward Wearables,” a Meta spokesman said. “This is part of that effort.”
Mr Zuckerberg is now reportedly focused on thinning the population of the metaverse group after the tech failed to gain the traction Meta had anticipated.
A year after a name change away from its Facebook origins and a change of product focus, WSJ reporting revealed that the company’s flagship metaverse product, Horizon Worlds, was failing to catch on. It had fewer than 200,000 monthly active users, with the majority of its“worlds” entirely untroubled by visitors, and its presentations became memes and punchlines.
Meta has been gradually shifting focus away from the metaverse ever since and pivoting towards AI, the industry’s new obsession.
Source: The Wall Street Journal
(Links and quote via original reporting)
