Meta's Reality Labs recorded a $4 billion loss in the latest quarter, consistent with ongoing challenges in its metaverse division. The company is shifting its focus to artificial intelligence, with capital expenditures on AI infrastructure and personnel expected to increase.
Meta is set to lay off several hundred employees across its sales, recruiting, and Reality Labs divisions as part of a continued restructuring effort. The layoffs come as the company increases investment in artificial intelligence, with a focus on streamlining its workforce globally.
Meta is reportedly preparing to reduce its workforce by up to 20%, representing one of the largest layoffs in the company’s history. The cuts follow significant investments in artificial intelligence and continued financial pressure on divisions such as Reality Labs.
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