Meta guts virtual reality division amid mounting losses and fading hype
Meta Platforms has laid off more than 100 employees from its Reality Labs division, the company's unit dedicated to developing virtual and augmented reality technologies for its Quest headsets.
The cuts, confirmed by a company spokesperson, primarily affected Oculus Studios, Meta's in-house VR content division, and employees working on hardware and the VR fitness app Supernatural.
The layoffs come as Meta continues to recalibrate its workforce following a wave of industry-wide job reductions and a new emphasis on performance and efficiency.
'Some teams within Oculus Studios are undergoing shifts in structure and roles that have impacted team size,' a spokesperson with the Bay Area tech giant said in a statement Friday. 'These changes are meant to help Studios work more efficiently on future mixed reality experiences for our growing audience, while still delivering great content for people today.'
Employees working on Supernatural, a subscription-based fitness app acquired by Meta for $400 million in 2021, were among those let go.
'We're deeply saddened to share that these changes have resulted in the loss of some of our incredibly talented team members. Their contributions have been instrumental in shaping our journey and yours, and their absence will be deeply felt,' the app's team said in a Facebook post, noting a forthcoming reduction in workout content.
The layoffs come on the heels of Meta's decision earlier this year to cut 5% of its workforce, roughly 3,600 employees, as CEO Mark Zuckerberg pushes for a leaner, performance-driven culture.
In an internal memo, Zuckerberg said Meta had strayed from 'masculine energy' and vowed to raise 'the bar on performance management.'
The employees impacted by the cuts are eligible to apply to new roles at Meta, and many of them have already been matched to open roles to interview, according to the spokesperson.
Reality Labs has remained a financial drain, losing nearly $5 billion in the fourth quarter of last year, even as Meta's stock has rebounded amid Wall Street's approval of tougher cost-cutting strategies across the tech sector.
'We remain committed to investing in mixed reality experiences, including fitness and games, and our drive to deliver the best experiences possible for the Quest and Supernatural communities remains unchanged,' the statement said.
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