Meta Layoffs: Facebook Parent Meta Plans Layoff Amid Reality Labs Restructuring

Rupam Roy
June 19, 2024
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Meta Layoffs Reality Labs

Highlights

  • Meta to lay off its Reality Labs employees as part of its restructuring plan.
  • The restructuring plan aims to divide the Reality Labs into two groups: Metaverse and Wearables.
  • The layoff number has not been confirmed yet by the technology firm.

Meta Layoffs: The parent company of Facebook, Meta announced a significant restructuring of its Reality Labs division, which will now be split into two distinct groups: Metaverse and Wearables. Notably, this move comes amid broader efforts to streamline operations and focus on core technologies, leading to an unspecified number of layoffs within the division, as per reports.

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Reality Labs Restructuring

Facebook’s parent firm Meta has revealed plans to restructure its Reality Labs division, a move to enhance its focus on the burgeoning technology sector. Notably, Realty Labs is a hardware and metaverse division of Meta, formed in 2020, and is known for its pioneering work on virtual and augmented reality.

Now, according to The Verge, Reality Labs will be divided into two main segments: Metaverse and Wearables. The report said that the Metaverse division will concentrate on Oculus headsets and virtual environments, while Wearables will focus on wearable items like the Ray-Ban smart glasses.

Meanwhile, this restructuring is part of Meta’s strategy to sharpen its technological focus and improve product development. Besides, the division of Reality Labs into Metaverse and Wearables aims to align the company’s resources more effectively with its long-term goals in these burgeoning fields.

Andrew Bosworth, Meta’s Chief Technology Officer, emphasized this in a memo to employees. He said that the firm is increasing its focus on the advanced product which are “fit for wearable Meta AI”.

Notably, the decision to split Reality Labs into two groups reflects Meta’s commitment to enhancing its offerings in both virtual reality (VR) and augmented reality (AR). The Metaverse group will continue to develop Oculus headsets and refine the Horizon platform, Meta’s virtual reality social space.

On the other hand, the Wearables team will focus on integrating digital content with physical reality through devices like the Ray-Ban smart glasses, aiming to blend digital and physical experiences seamlessly.

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Meta Plans Layoff To Streamline Operations

As part of the restructuring, Meta has confirmed that there will be additional layoffs within the Reality Labs division, the report stated. However, the exact number of affected employees has not been disclosed.

This move aligns with Meta’s broader efforts to reduce overhead and enhance operational efficiency. Bosworth’s memo highlighted the company’s goal to reduce its employee strength which would allow people from different teams to work together with a focus on offering better services to their customers.

Meanwhile, the layoffs are expected to streamline Meta’s workforce, enabling the company to better allocate resources toward its strategic objectives. While this news may be concerning for those directly affected, it reflects a common trend among tech giants to refine their focus and improve agility in a rapidly evolving market.

Besides, Bosworth also reiterated Meta’s commitment to its Horizon virtual reality platform, describing it as the “core foundation of our social, spatial Horizon OS, and high-quality experiences for both mixed reality and mobile.” By refining its approach and consolidating its efforts in key areas, Meta aims to maintain its leadership position in the VR and AR sectors while navigating the challenges of a competitive and fast-paced industry.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.