Meta has laid off staff in its Reality Labs division, according to CNBC. The layoffs include members of Oculus Studios, which develops VR content for Meta’s Quest headsets. A Meta spokesperson said the cuts were due to restructuring within Oculus Studios to improve efficiency for future mixed reality projects. Staff working on the Supernatural VR workout app were also impacted. The layoffs follow February’s cut of 5% of Meta’s workforce, targeting underperformers. In Q4, Reality Labs posted a nearly $5 billion loss against almost $1 billion in sales. Meta is scheduled to report earnings on Wednesday.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Mata has laid off staff in its Reality Labs division, according to CNBC.
00:06Layoffs include members of Oculus Studios, which develops VR content for Mata's Quest headsets.
00:11Mata's spokesperson said the cuts were due to restructuring within Oculus Studios
00:15to improve efficiency for future mixed reality projects.
00:18Staff working on the Supernatural VR workout app were also impacted.
00:22Layoffs filed February's cut of 5% of Mata's workforce, targeting underperformers.
00:26And Q4 Reality Labs posted a nearly $5 billion loss against almost $1 billion in sales.
00:32Mata is scheduled to report earnings on Wednesday.
00:34For all things money, visit Benzinga.com slash GSTV.