Meta Platforms plans to lay off about 10 of employees in its Reality Labs division, the New York Times reported on Monday, citing three people familiar with the matter.
The cuts, which could be announced as soon as Tuesday, are expected to fall disproportionately on teams working on the metaverse, including virtual reality headsets and virtual social platforms. Reality Labs employs roughly 15,000 people.
Reality Labs has been central to Chief Executive Mark Zuckerberg's long-term bet on the metaverse, a strategy that has seen Meta invest heavily in immersive digital worlds. Since 2020, the division has reported cumulative losses of more than 60 billion, raising persistent questions among investors about the viability of the business.
