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Magic Leap Cuts Half of Jobs In Major Restructuring

  • About 1,000 employees are said to be affected by cuts
  • Magic Leap to focus on enterprise business instead of consumer
The Magic Leap One
The Magic Leap OneSource: Magic Leap
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Magic Leap Inc., the augmented-reality startup that raised more than $2 billion from high-profile investors including Alphabet Inc. and Alibaba Group Holding Ltd., is cutting about half of its workforce as part of a major restructuring, according to people familiar with the matter.