Meta's Reality Labs to Slash 10% of Workforce Amid Metaverse Losses

• Meta's Reality Labs division is set to cut approximately 10% of its 15,000-person workforce, as reported by The New York Times.
• The layoffs are expected to impact teams focused on virtual reality headsets and virtual social environments.
• Reality Labs, responsible for metaverse platforms and VR/AR hardware, has incurred tens of billions in losses since 2020.
• Products include Quest mixed-reality headsets, Ray-Ban smart glasses, and augmented reality eyewear.
• The cuts come as Meta shifts focus to strengthen its position in artificial intelligence.

Why It Matters: Meta's Reality Labs is cutting 10% of its staff due to significant metaverse losses and a pivot to AI.