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    Now, Meta Looks Like It Is Souring on The Metaverse

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    While layoffs at tech companies appeared to be easing in recent months as the business environment for tech companies showed signs of recovery, one company emblematic of the tech industry’s woes – Meta – is back at it again. In danger.

    The troubled tech company announced Wednesday that it will lay off employees at its Reality Lab division for Metaverse applications, where it is said to be focusing on marketing and research and development. According to the report, the specific division affected was the Fast Agile Silicon Team (FAST), which creates custom silicon for Metaverse products and employs approximately 600 people.

    The number of employees affected was reportedly not disclosed, but the layoffs will be another blow to Meta, which has made several layoffs since last November. Previous layoffs hit areas like customer service and marketing hard, but this latest round of layoffs appears to be moving closer to Meta’s core Metaverse business.

    Other online reports noted that Meta is relying on Qualcomm’s Snapdragon XR2 chip for VR and mixed reality after encountering technical issues creating its own chip. The Snapdragon chip will be used in Meta’s latest AR/VR headset, the Quest 3, which was announced in June and is currently on the market.

    Rather, this reduction confirms the difficulties Meta faces in transitioning its efforts to the Metaverse.according to 1 online reportMeta’s Reality Labs division posted a $13.7 billion loss in 2022, with fourth-quarter revenue of $727 million, a 17% decline primarily due to lower sales of the Quest 2 AR/VR headset. It is reflected.

    Spencer Chin is a senior editor at Design News, covering the electronics beat. He has many years of experience covering the development of components, semiconductors, subsystems, power supplies, and other aspects of electronics from both a business/supply chain and technology perspective. You can contact him at: [email protected].

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