Meta to lay off employees in Reality Labs' metaverse silicon unit, signaling potential setbacks for metaverse ambitions

Meta, formerly known as Facebook, is planning to lay off employees in its metaverse-focused Reality Labs division on Wednesday, according to exclusive reports from Reuters and Bloomberg. The layoffs will specifically affect the unit responsible for creating custom silicon for Meta's metaverse endeavors. The extent of the job cuts is currently unknown. This move comes as Meta strengthens its partnership with Qualcomm and aims to navigate the evolving metaverse landscape. These layoffs mark another round of job reductions for Meta, which has already laid off 21,000 employees since November. The company's metaverse ambitions may face setbacks as a result of these layoffs in the silicon division.