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Meta shuts 3 VR studios and lays off hundreds of devs as it pivots from virtual reality and the metaverse to AI
Meta is laying off around 10% of staff at its Reality Labs division as part of sweeping cuts set to affect more than 1,000 people. This includes the closure of a number of VR-first studios, such as ...
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Meta lays off hundreds more workers as Mark Zuckerberg pivots away from costly ‘metaverse’ push
Meta is laying off several hundred employees across key divisions — including Facebook and its Reality Labs unit — as it overhauls the company for the artificial intelligence era. The layoffs also ...
Meta spent billions to close offices and lay people off. Now we know why.
Mark Zuckerberg lost $16 billion on the Metaverse last year, but Meta investors are elated because job cuts and office closures led to huge profits.