Meta Plans to Cut 10% of Jobs at Company’s Reality Labs Division

Meta Platforms Inc. plans to cut 10% of jobs in the company’s Reality Labs division, part of a broader strategy to shift money away from some virtual reality products and into other AI wearables.

The cuts are expected this week, according to a person familiar with the company’s plans who wasn’t authorized to speak publicly. Chief Executive Officer Mark Zuckerberg asked executives to look for budget reductions within the Reality Labs division late last year, including cuts to some of the company’s virtual reality and metaverse products, Bloomberg News previously reported.