Meta plans to layoff around 10% of its Reality Labs team, primarily affecting metaverse employees, due to a shift in focus towards AI.

TLDR

Meta plans to lay off around 10 percent of its Reality Labs team, with a focus on employees working on the metaverse as AI takes center stage.

This comes after reports of a 30% budget cut for the metaverse division and the increasing popularity of Meta’s Ray-Ban smart glasses.