You win some, you lose some. Even if you’re Mark Zuckerberg.
Meta reportedly plans to continue the grand unwinding of its metaverse ambitions by laying off 10% of its 15,000-person Reality Labs division, which is responsible for the company’s virtual reality headsets and
Horizon Worlds game.
According to the New York Times, layoffs will be announced this week—as soon as today, even.
Not that Meta plans to spend less money on headcount, mind you.
The Facebook and Instagram parent has vowed to continue plowing money into AI this year after spending $75 billion on it last year, forecasting bigger capital costs that could outpace revenue growth (and investors’ patience).
Meta has already boosted the budgets of various AI teams, such as its TBD Lab working on superintelligence. Expect some of the money that once flowed to VR headsets to redirect to AI wearables. (Tomato,
tomahto.)
It’s not quite the final chapter for the company’s metaverse ambitions, which have been a strategic priority for a decade. But with each passing year, it’s becoming ever more clear that the only “meta” left at Meta might be the company’s name.
—AN