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Wednesday, May 11, 2022 6:20:26 PM
By: Katie Paul | May 11, 2022
(Reuters) - Facebook-owner Meta Platforms Inc is preparing cutbacks in its Reality Labs division, a strategic unit at the center of its strategy to refocus the company on hardware products and the "metaverse," a spokesperson confirmed to Reuters on Wednesday.
Chief Technology Officer Andrew Bosworth told Reality Labs staffers during a weekly Q&A session on Tuesday to expect the changes to be announced within a week, according to a summary of his comments viewed by Reuters and confirmed by the spokesperson.
Meta was not planning layoffs as part of the changes, she added.
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