Meta plans to cut about 10% of employees in reality labs business

Meta plans to cut about 10% of the employees in its Reality Labs division who work on products including the metaverse, according to three people with knowledge of the discussions, as the company shifts priorities to build next-generation artificial intelligence.

The cuts to Reality Labs — which has roughly 15,000 employees — could be announced as soon as Tuesday. The layoffs would be a fraction of Meta’s total workforce of 78,000, but are set to disproportionately affect those in the metaverse unit who work on virtual reality headsets and a VR-based social network, said the people,