Meta Platforms Inc (NASDAQ:FB) plans to lay off employees from its Reality Labs division on Wednesday, according to reporting from Reuters.
Workers were informed through Meta’s internal discussion forum that they would find out about their employment status by early Wednesday morning, according to a source familiar with the matter.
Meta’s Reality Labs division is focused primarily on the Metaverse, developing virtual and augmented reality hardware like the recently announced Quest 3. It also includes the Facebook Agile Silicon Team, which develops custom silicon chips to power said devices.
It’s uncertain how the cuts will break down, according to reports.
Meta shares were down 0.45% in Wednesday's premarket deals, having fallen nearly 2% Tuesday to $300.94.