At the start of the year, the company announced plans to let go about 3,600 workers. In 2022 and 2023, Meta laid off 21,000 staffers as part of a cost-cutting initiative. Photo: Meta ...

Facebook owner Meta Platforms is laying off an unspecified number of employees from its Reality Labs division amid ongoing restructuring efforts, the company said on Thursday.

Meta lays off Reality Labs staff, impacting Oculus Studios and VR fitness app Supernatural, while pursuing new hires and restructuring efforts.

Meta, on Thursday (April 24), laid off an unknown number of employees from its Reality Labs division, which includes employees working in Oculus studios, who are responsible for creating mixed ...

The Q4 2024 loss posted by Reality Labs is the biggest yet since Meta began reporting Reality Labs as its own segment in Q4 2020. Since then, Meta has lost at least $2 billion a quarter, with ...

Below is a breakdown. Meta 10K 2024 Now, even though Reality Labs accounts for 1% of total revenue [TTM], the employee compensation in this segment accounts for a whopping 24.7% of the total in 2024.

Meta Platforms Inc. is laying off more than 100 people across its Reality Labs division focused on creating virtual reality and wearable devices, according to a person familiar with the matter.

Meta reported a $4.2 billion loss in Reality Labs, totaling over $60 billion since 2020. Reality Labs faced layoffs and struggles with declining revenue and underperforming Quest sales.

Despite producing one of the best VR headsets around, the Quest 3, Meta's Reality Labs division just isn't making any money. Nearly $2 billion of revenue in 2023 was completely swallowed by $18 ...

Meta Platforms has canceled plans for a premium mixed-reality headset intended to compete with Apple’s Vision Pro, the Information reported Friday. The company told employees at its Reality Labs ...

Meta's Reality Labs division logged an operating loss of $4.97 billion while scoring $1.1 billion in sales during the fourth quarter, the company said in January.

In the memo, seen by BI, Meta's CTO said 2024 was "pivotal" for Reality Labs. The executive said Meta has seen "massive sales growth in wearables" and its Quest brand is strong.