"Meta's wearables unit, which includes AI glasses and its augmented reality business, is one of the company's 'several key investment areas' for 2026, per its latest earnings report."
"According to Reuters, which first reported the layoffs, a fifth or more of Meta employees could be let go, translating to about 16,000 job cuts."
"Meta laid off roughly 10% to 15% of its employees in its Reality Labs group in January as it continues to shift strategy away from the Metaverse."
"The plan includes an increased number of restricted stock units that vest over time, and tens of thousands of stock options that give them the right to purchase shares at lofty future targets."
Meta employees in the wearables and ads divisions received a directive to work remotely as the company prepares for layoffs. The layoffs could affect over 16,000 employees, as Meta is reportedly drawing up cost-cutting plans. The wearables unit, which includes AI glasses and augmented reality, is a key investment area for 2026. Meta has already laid off a significant portion of its Reality Labs group and is investing heavily in AI, while stock-based compensation programs for senior leaders have been detailed.
Read at www.businessinsider.com
Unable to calculate read time
Collection
[
|
...
]