Facebook’s parent company, Meta, will remove employees from its Reality Labs section, which develops its metaverse initiatives. On Wednesday (US time), Meta’s Workplace forum informed staff of the layoffs, sources said.
The layoffs are expected to affect Facebook Agile Silicon Team (FAST), which employs 600 workers. This could affect Meta’s extensive AR/VR goals, which are essential to Mark Zuckerberg’s agenda.
Meta will invest $10 billion in its metaverse efforts over the next few years. However, the company has struggled to make AR-VR headset processors that compete with third-party suppliers.
Meta (previously Facebook) reported $13.7 billion in Reality Labs operating losses in 2022, hurting its AR-VR and metaverse ambitions. For Reality Labs, Q4 revenue fell 17% to $727 million due to lower Quest 2 sales.
Despite Mark Zuckerberg’s unveiling of the metaverse project over a year ago, internal documents show technological issues, user disinterest, and a lack of success strategy.
Google’s Pixel 8, Pixel 8 Pro, and Pixel Watch 2 pre-orders begin in India
In October of last year, an influential long-term investor in Meta advised the business to cut metaverse spending to stay competitive.
Altimeter Capital Chair and CEO Brad Gerstner stressed the necessity for metaverse clarity.
Meta has cut roughly 21,000 positions across sectors since last year.
Meta released the Quest 3, its latest mixed reality (MR) headset, in late September, with 30% higher visual resolution and 40% higher audio range than the Quest 2.
Conclusion:-
Meta, Facebook’s parent firm, is planning to cut jobs in Reality Labs, which develops its metaverse initiatives. The layoffs are expected to affect Facebook Agile Silicon Team (FAST), which employs 600 workers. This could affect Meta’s extensive AR/VR goals, which are essential to Mark Zuckerberg’s agenda. Meta plans to invest $10 billion in its metaverse efforts in the next years, but it has struggled to make chips for its AR-VR headsets that compete with third-party chips. Meta’s Reality Labs branch lost $13.7 billion in 2022, hurting its AR-VR and metaverse goals. Internal documents show technical issues, user apathy, and a lack of success path clarity. Meta has cut roughly 21,000 positions across sectors since last year.
