Meta begins layoffs, shifting resources from VR and metaverse to AI devices.

Meta Platforms announced layoffs of more than 1,000 employees from its Reality Labs department, as part of the company's shift of resources from virtual reality and metaverse products to artificial intelligence wearable devices and mobile functions strategy. According to a notification sent out internally by Chief Technology Officer Andrew Bosworth, employees will start receiving layoff notices from Tuesday morning. According to previous reports from foreign media, the layoffs will affect about 10% of the approximately 15,000 employees in Reality Labs. A Meta spokesperson said, "Last month, we mentioned that we would shift some investments from the metaverse to wearable devices. These layoffs are part of that strategy, and we plan to reinvest the saved resources to support the growth of wearable business this year."