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Story summary
- Meta Platforms, Inc. is laying off about 1,500 employees from its Reality Labs division, roughly 10% of the unit.
- The cuts reflect a move away from the metaverse, a strategy that has cost the company over $77 billion since 2020.
- The restructuring closes several VR game studios and reallocates resources to wearables as Meta pivots toward AI and lightweight augmented reality.
