As we expected, Meta has begun laying off more than 1,000 employees from its Reality Labs division, which focused on virtual reality and metaverse products, Bloomberg reports. The company will refocus on developing wearables, like its recent batch of AI-powered Ray-Ban smart glasses, according to a memo from CTO Andrew Bosworth.
The news isn’t too surprising. Reality Labs has lost more than $70 billion since the beginning of 2021, and while Meta has done a solid job of delivering desirable consumer VR headsets and smart glasses, that business hasn’t been nearly profitable enough to justify the cost. And of course, Mark Zuckerberg’s huge gamble on the metaverse, which involved renaming
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