Following in the footsteps of Twitter, Meta Group, owner of the popular social networking platform Facebook, announced that it is laying off more than 11,000 of its employees, in what it considered “the most difficult changes in its history,” according to the group's president. Mark Zuckerberg Today is Wednesday.
drew Zuckerberg He indicated that these layoffs will affect 13% of the Meta Group’s workforce. It will impact its research lab, which focuses on virtual reality, Metaverse, as well as its other applications, including other social media platforms Instagram, Facebook, and WhatsApp.
Meta Group is known to have acquired several independent game development studios specializing in “virtual reality” over the past few years. This is part of its effort to support its VR headset gaming projects. Camouflag, Twisted Pixel, and Armature are now part of the Oculus Studios team.
Those studios are now part of a team of eight other studios operating under the Meta Group umbrella. Meanwhile, Meta Reality Labs is seeing a decline in revenue due to a price hike for its Quest 2 headset. Bloomberg reports that the company is looking to lay off hundreds of employees working in the space as it gears up for the launch of Quest 3.
It is worth noting that the technology sector is currently experiencing a serious recession, similar to the Great Depression experienced by workers during 1929 and which lasted until 1934. Several large companies have announced the dismissal of a large number of their employees, such as the announcement of the new owner of the Twitter platform. Elon Musk Last week, 50% of the company's employees were laid off.
