With the Metaverse Canceled and Zuckerberg Training AI to Run the Company, Meta Is Slashing Its Headcount
AI-summarised brief · reviewed before publication
Meta fired around 700 employees, mostly in its Reality Labs unit, as it shifts focus to AI development. The company's virtual reality "Metaverse" project lost $80 billion and failed to attract users. Mark Zuckerberg is training an AI agent to assist with his CEO duties, and performance reviews now evaluate AI tool usage. The layoffs come as Meta introduces a new stock program for top executives, potentially worth nearly $1 billion over five years.