Key Points
NEW YORK, Oct 3 (Reuters) - Meta (META.O) is planning to lay off employees on Wednesday in the unit of its metaverse-oriented Reality Labs division focused on creating custom silicon, two sources familiar with the matter told Reuters on Tuesday...
Employees were informed of the layoffs in a post on Meta's internal discussion forum Workplace on Tuesday..
The FAST unit is tasked with developing custom chips to power the augmented and virtual reality hardware produced by Meta's Reality Labs division...
Meta currently makes a line of mixed reality headsets called Quest and smart glasses designed with Ray-Ban eyeglass maker EssilorLuxottica (ESLX.PA) that can stream video and speak with wearers through a new artificial intelligence virtual assistant...
However, Meta has struggled to make chips that can compete with silicon produced by external providers and has turned to chipmaker Qualcomm (QCOM.O) for devices currently on the market, including both the Quest headsets and the Ray-Ban glasses...
