Meta to Lay Off Employees in Silicon Unit for Metaverse Initiatives

Meta, the parent company of Facebook, is set to lay off employees in its silicon unit, Reality Labs, which focuses on custom silicon for metaverse initiatives. The layoffs will affect the Facebook Agile Silicon Team (FAST), which develops custom chips for augmented and virtual reality hardware. The extent of the cuts is unknown, but the FAST unit has approximately 600 employees. The layoffs are part of Meta's broader cost-cutting efforts to improve profitability.