Meta is reportedly planning to cut 10% of its Reality Labs division, the company’s metaverse arm, this week as it continues to shift its focus towards artificial intelligence. According to a report, the layoffs will affect various teams within Reality Labs, which has been responsible for developing the company’s virtual reality headsets and metaverse platforms. This move comes as Meta CEO Mark Zuckerberg has increasingly emphasized the importance of AI for the company’s future. Meta has been investing heavily in AI research and development, aiming to integrate AI technologies into its various products and services. The job cuts in the metaverse division suggest a potential reallocation of resources towards AI initiatives. While Meta remains committed to the metaverse in the long term, the company is facing pressure to improve its financial performance. The Reality Labs division has been incurring significant losses, raising concerns among investors. By reducing headcount in the metaverse division, Meta aims to streamline its operations and improve its profitability.
Source: Meta to cut 10% of metaverse arm this week amid AI push: Report
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