Meta confirms Reality Labs layoffs and shifts to invest more in wearables
TL;DR
Meta is laying off 10% of its Reality Labs division to shift investment from the Metaverse to wearables, aiming to grow its wearables business this year, with Ray-Ban smart glasses gaining prominence over VR headsets.
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Around 10 percent of Meta's Reality Labs division, which develops its XR products and services, will be laid off beginning on Tuesday, as reported by Bloomberg.
Meta spokesperson Tracy Clayton confirmed the layoffs in a statement to The Verge: "We said last month that we were shifting some of our investment from Metaverse toward Wearables. This is part of that effort, and we plan to reinvest the savings to support the growth of wearables this year."
Meta's Ray-Ban smart glasses have stolen the spotlight from its VR headsets in recent years, especially with last year's launch of the Meta Ray-Ban Display. As Bloomberg also reported on Tuesd …