Meta’s Bosworth confirms Reality Labs job cuts in memo, Bloomberg reports

Meta confirmed that it is cutting more than 1,000 jobs from the Reality Labs division as part of a plan to redirect resources from virtual reality and metaverse products toward AI wearables and phone features, Bloomberg’s Kurt Wagner reports. According to an internal post from Chief Technology Officer Andrew Bosworth that was reviewed by Bloomberg, the cuts are expected to hit roughly 10% of employees within the group. Meta will continue to develop the metaverse, but with a focus on mobile phones, and will also keep investing in VR headsets and features, but less aggressively, Bloomberg says.