Meta ends some Reality Labs projects

New information revealed that Instagram and Facebook’s parent company Meta will take a break from some projects in the Reality Labs division, which is at the center of the company’s hardware efforts and metaverse strategy. .

There will be no layoffs

In a letter sent by Andrew Bosworth, the company CTO obtained by Reuters, to the employees, it was stated that some Reality Labs projects being worked on will be suspended, while work on some projects will be terminated.

It is not yet known which projects will be affected by this decision. It was also stated in the letter that Meta is not considering layoffs as part of these changes.

After Meta reported a decrease in revenue in its last quarter earnings, the company recently hired for middle and senior positions to provide cost reduction to relatively reduce expected revenue drops in the future. There were allegations that it would slow down purchases.