Meta Cuts Reality Labs Staff

Benzinga

Meta is cutting about 10% of staff in its Reality Labs unit, shifting resources away from some VR studios toward augmented reality and artificial intelligence initiatives.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Meta Platforms is laying off 10% of staff in its Reality Labs division, according to the New York Times.

00:09Reality Labs had roughly 15,000 employees, and the cuts could impact more than 1,000 workers.

00:15CNBC reported that Meta plans to shut down Armature Studio, Twisted Pixel,

00:20Sanzaru, and Oculus Studios Central Technology.

00:23Business Insider reported that Meta CTO and Reality Labs head Andrew Bosworth

00:28called an in-person meeting on January 14th.

00:32The New York Times reported that the layoffs will not affect augmented reality staff

00:35and that savings from the cuts will be redirected toward AR development, including glasses and controllers.

00:42The move follows Meta's shift in focus toward artificial intelligence,

00:46including leadership changes and the creation of superintelligence labs.

00:49For all things money, visit Benzinga.com.

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