Meta to Lay Off Employees in VR/AR Division, Impacting Metaverse Plans

Meta planning to lay off employees in Reality Labs division on Wednesday, including custom silicon team. Layoffs could affect metaverse and AR/VR plans.

Layoffs will impact Facebook Agile Silicon Team (FAST) that develops custom chips for AR/VR devices. Extent of cuts unknown.

FAST has struggled to make competitive custom chips. Now relies on Qualcomm.

Meta developing AR glasses to be released next year, along with new Quest 3 headset. Longer-term AR glasses in the works.

Layoffs part of broader cost-cutting effort. Meta cut around 21,000 jobs since November as revenue growth slowed.