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Chronicles

The story behind the story

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Meta confirms it is laying off Reality Labs staff and will “reinvest the savings” in wearables; CTO Andrew Bosworth says 1,000+ staff will be notified Tuesday

Meta Platforms Inc. is beginning to cut more than 1,000 jobs from the company's Reality Labs division …

Bloomberg Kurt Wagner

Discussion

  • @nathievr @nathievr on x
    My heart goes out to everyone at Meta who is losing their job today, many of whom I've become friends with over the years and who have truly earned their stripes in the XR scene. I'm confident they'll land great roles and keep doing what they do best.
  • @sadlyitsbradley Brad Lynch on x
    So is Meta calling their MR glasses “Phoenix” because they think it will help them “rise from the ashes” Because there's quite a lot of ashes to rise from...
  • @ibrews Alex Coulombe on x
    I've had friends affected by the Meta layoffs before, but today is different— I can't believe how many incredible people are suddenly out of work.
  • @thejobchick Amanda Goodall on x
    BRUTAL.  META Layoffs are HAPPENING today.  Reality Labs is cutting almost everyone working on its virtual reality and metaverse products.  About 1000-1500 job cuts reported...Reality Labs lost $4.4B in Meta's most recent quarter — yeah.... in 3 months.  OUCH.  Meta is shifting f…
  • @grummz @grummz on x
    Meta is planning to lay off hundreds. They used to spend billion on their VR metaverse. Renamed the whole company, They completely failed to see AI coming. [image]
  • @stocksavvyshay Shay Boloor on x
    I still believe $META will be a huge winner in the AI economy for three reasons: 1.  The company controls where billions of people already spend their time...2.  It also runs one of the largest private AI inference stacks in the world...3.  Meta owns unique, real-world social & b…
  • @cixliv @cixliv on x
    To all those laid off by Meta. That sucks. REK is hiring for devs please DM. But to join you do a cleansing ritual to absolve your sins for working at Meta. You will have to be punched by a robot while chanting “down with Zuck” as initiation.
  • @amitisinvesting Amit on x
    $META feels like the street doesn't trust Zucks at all - they are going to have a great Q4, obviously undervalued at 18x fwd compared to other Mag 7s, just announced a new compute initiative (maybe new cloud biz) and acquired Manus which is bringing real agentic workflows to Meta…
  • @scobleizer Robert Scoble on x
    I was a VR advocate for such a long time that this is really personal to me.  It's something I got wrong: I thought VR would be a lot more popular than it turned out to be.  Glasses are coming.  There were huge crowds around all the glasses booths at CES, but the utility just has…
  • @vladtheinflator Darth Powell on x
    Meta does one thing well. Anything outside of that will fail
  • @benz145 Ben Lang on x
    Really sorry to hear this news for all the people affected.  This looks to be the culmination of a shift in that's been brewing for the last few years: the bulk of the Quest audience is younger and looking for free-to-play multiplayer games.  Big investments in single player game…
  • @xuwu Wu Xu on x
    The truth is Meta's investment in Reality Labs is still at a high level.  This year it will likely remain well into the tens of billions of dollars, and it could even be north of $15B, with headcount still at 10,000+...So whenever there's a layoff headline and the media claims Zu…
  • @samsolid57 Sam Badawi on x
    $META will cut 10% of staff at Reality Labs, per the NYT. At the same time, the company is ramping datacenter investment while trimming headcount in non-core orgs to help offset rising CapEx. The question is whether this is the early shape of a hyperscaler strategy like $GOOGL [i…
  • @mikeisaac Rat King on x
    meta isn't ditching VR, nor is it necessarily decreasing overall spending since it is HEAVILY on AI. execs are making cuts across different units that arent working while pouring cash into other parts of the business wearables like the Ray-Bans have been a bright spot
  • @eringriffith Erin Griffith on x
    meta does layoffs in its metaverse division. is it too late for meta change its name to llama, ticker symbol LLM https://www.nytimes.com/...
  • @p_remarks @p_remarks on x
    Cutting 10% of FRL the same day they announce Meta Compute This is why you can't back out FRL losses. He will just repurpose them into a new venture
  • @caktusjaxk1 @caktusjaxk1 on x
    Meta is basically saying: “Less metaverse. More superintelligence.” •$META reportedly planning ~10% cuts in Reality Labs (VR/metaverse-heavy). •Reality Labs is ~15k people; cuts could land as soon as Tuesday. •AR/smart glasses group largely spared; Ray-Ban glasses reportedly [ima…
  • @mikeisaac Rat King on x
    Meta to announce cuts of around 10% of its Reality Labs unit, focused mostly on the Metaverse division. cuts could amount to upward of 1,500 people Meta plans to shift that budget into AI and wearables like Meta Raybans story w/ @elitanjourno https://www.nytimes.com/...
  • @anshelsag Anshel Sag on x
    So, with today's layoff announcement, @Meta has now laid off people for five years straight, following a 23% increase in headcount in 2021.
  • @handpressed.net Nick on bluesky
    I will never get my head (and upper body but not my legs) around how anyone thought the “Metaverse” was a good idea.  Billions wasted on the whims of an awful cunt.  [embedded post]
  • @ohheymarc Marc Stone on bluesky
    Ah yes, because EVERYONE will be super into Wearables by Meta.  Everything else they've done has worked out wonderfully for them.  Those VR games only made millions after all.  [embedded post]
  • @ianbetteridge.com Ian Betteridge on bluesky
    After $100bn wasted, I think Mark Zuckerberg, controlling shareholder of Meta, should fire Mark Zuckerberg, CEO of Meta [embedded post]
  • @gematsu.com @gematsu.com on bluesky
    Meta shuts down Armature Studio, Sanzaru Games, and Twisted Pixel  —  Meta will close game studios Armature Studio, Sanzaru Games, and Twisted Pixel, the company confirmed to Gematsu.
  • @elucidating.extradimensional.space @elucidating.extradimensional.space on bluesky
    Yeah, no surprise there.  The entire Meta effort is pointless, gaming isn't a significant effort for them, and the only traction they have going forward is AR wearables.  —  Now I submit even this will suck, but there are *possible* successes in this.  [embedded post]
  • @quinnypig.com Corey Quinn on bluesky
    Good thing they didn't rename the whole company to chase the boondoggle.  [embedded post]
  • r/TwoBestFriendsPlay r on reddit
    Meta shuts down Armature Studio, Sanzaru Games, and Twisted Pixel
  • r/SonicTheHedgehog r on reddit
    Sonic Boom: Shattered Crystal and Fire & Ice developer Sanzaru Games has been shut down
  • r/PSVR r on reddit
    Dark Days for VR gaming ahead
  • r/virtualreality r on reddit
    Meta has closed several studios, including 'Splosion Man studio Twisted Pixel and Asgard Wrath's Sanzaru Games |  VGC
  • r/Games r on reddit
    Meta has closed several studios, including 'Splosion Man studio Twisted Pixel and Asgard Wrath's Sanzaru Games |  VGC
  • r/Slycooper r on reddit
    Sanzaru Games, developers of Sly Cooper: Thieves in Time, have been shut down by Meta
  • r/augmentedreality r on reddit
    Meta reportedly cutting about 1,500 jobs in Reality Labs division