Meta, which includes, among other things, the world's largest social network Facebook, recently made headlines not only in the technology media. It announced that it intends to lay off 11 employees (i.e. about 13% of the total number of employees), due to lower income from online trading, or weaker advertising market. Now it has become clear that this is not the only step that the company wants to take to reduce costs and make its operation more efficient.
According to an extensive report released by the agency Reuters Meta is halting the Portal smart display project and two smart watch models with immediate effect. This information was to be revealed by Meta's chief technology officer, Andrew Bosworth, during a meeting with employees who still work for the company. He also reportedly told them that Portal would take too long to develop and require significant investment for Meta to bring it to the enterprise level. As for the watch, Bosworth is said to have said that the team behind the watch will be working on augmented reality hardware.
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Bosworth also told Meta employees that most of the 11 workers to be laid off were in business, not technology, positions. Part of Meta's reorganization is said to be the creation of a specialized division whose task will be to solve complex technical obstacles.
At least in the near future, the company does not seem to be in for good times, and the question is how its bet on the name card will pay off. metaverse. It could sink her in the long term, because she pours huge sums into it. Zuckerberg is counting on the billion-dollar investment to return in a few years, but it may be too late for Meta...
