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A little over four years after Mark Zuckerberg changed Facebook’s name to Meta
, reflecting his view that the future of work, play and socializing was going virtual, the company is making a major course correction.
Meta this week began laying off employees focused on virtual reality within its Reality Labs division and is shutting down a number of studios that were working on VR titles, according to people familiar with the matter who asked not to be named due to confidentiality. CNBC confirmed a report from the New York Times that layoffs, amounting to more than 1,000 jobs, will impact about 10% of the hardware division, which makes Quest VR headsets, and the Horizon Worlds virtual social network.
Andrew Bosworth, Meta’s chief technology officer, is slated to hold an all-hands meeting with Reality Labs on Wednesday, some of the people said.
