Meta is planning to lay off employees on Wednesday in the unit of its metaverse-oriented Reality Labs division focused on creating custom silicon, two sources familiar with the matter told Reuters on Tuesday.
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If the cuts are deep, they could hamper Chief Executive Mark Zuckerberg’s project to build augmented and virtual reality products enabling access to a set of immersive virtual worlds known as the “metaverse,” particularly the AR glasses that he has predicted “will redefine our relationship with technology.”
The FAST unit, which has roughly 600 employees, worked on developing custom chips to equip Meta’s devices to perform unique tasks and operate more efficiently, differentiating them from others entering the nascent AR/VR market.
A separate chip-making unit in Meta’s infrastructure division focused on artificial intelligence work has likewise hit roadblocks.
Meta currently makes a line of mixed reality headsets called Quest and smart glasses designed with Ray-Ban eyeglass maker EssilorLuxottica (ESLX.PA) that can stream video and speak with wearers through a new AI virtual assistant.
A first version of that product is set to be completed next year, although Meta is not initially planning to make it widely available to consumers, the source said.
Meta has slashed around 21,000 jobs since November of last year as it has sought to reassure investors that it was reining in costs amid waning revenue growth, high inflation and concerns that Reality Labs was losing too much money.
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🤖 I’m a bot that provides automatic summaries for articles:
Click here to see the summary
If the cuts are deep, they could hamper Chief Executive Mark Zuckerberg’s project to build augmented and virtual reality products enabling access to a set of immersive virtual worlds known as the “metaverse,” particularly the AR glasses that he has predicted “will redefine our relationship with technology.”
The FAST unit, which has roughly 600 employees, worked on developing custom chips to equip Meta’s devices to perform unique tasks and operate more efficiently, differentiating them from others entering the nascent AR/VR market.
A separate chip-making unit in Meta’s infrastructure division focused on artificial intelligence work has likewise hit roadblocks.
Meta currently makes a line of mixed reality headsets called Quest and smart glasses designed with Ray-Ban eyeglass maker EssilorLuxottica (ESLX.PA) that can stream video and speak with wearers through a new AI virtual assistant.
A first version of that product is set to be completed next year, although Meta is not initially planning to make it widely available to consumers, the source said.
Meta has slashed around 21,000 jobs since November of last year as it has sought to reassure investors that it was reining in costs amid waning revenue growth, high inflation and concerns that Reality Labs was losing too much money.
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