Facebook parent company Meta plans layoffs in Reality Labs division responsible for Ray-Ban smart glasses, wristwatch

Meta is reportedly preparing to lay off approximately 10% of its Reality Labs division, impacting employees developing virtual reality headsets and the Metaverse. Meta's Reality Labs division has around 15,000 employees and cuts are expected to be announced next week. The move comes as Meta CTO and Reality Labs chief Andrew Bosworth has called a key division-wide meeting for Wednesday