Downsizing at Meta12. May 2022
Downsizing at Meta
San Francisco, 12/5/2022
Meta is preparing to cut projects in its Metaverse-focused AR/VR division due to financial constraints.
Meta CTO Andrew Boswort was more precise in his comments. According to the statement, Meta’s Reality Labs will postpone some projects and discontinue others.
Bosworth admitted that the company cannot afford some projects at this time. No layoffs are planned, he said.
Meta still plans to release Project Cambria, a high-end headset geared toward work experiences It should be offered this fall.
Background: in 2021, the company lost $10 billion to its Reality Labs division, which makes VR headsets and other technologies.