Why is Meta laying off workers again?
Los Angeles Times • • business
Key Points:
- Meta is cutting over 1,000 jobs and closing several game development studios within its Reality Labs division to shift focus from the metaverse to AI-powered wearables like smart glasses.
- The affected studios include Armature, Sanzaru, and Twisted Pixel, with Meta planning to reinvest savings into growing its wearables business.
- Meta has faced multiple rounds of layoffs recently, including in AI divisions, as it navigates competition in AI hardware and tools amid significant financial losses in Reality Labs.
- Despite challenges with VR headset adoption, Meta’s smart glasses, developed in partnership with Ray-Ban and Oakley, are performing better than expected and feature AI-enabled functionalities.
- Meta continues to emphasize gaming as a core part
