'Meta To Lay Off Employees In Metaverse Silicon Unit On Wednesday' - Reuters News
Portfolio Pulse from Benzinga Newsdesk
Meta Platforms Inc. (META.O) is reportedly planning to lay off employees in its Reality Labs division, specifically the unit focused on creating custom silicon for its metaverse project. The layoffs are expected to occur on Wednesday, according to sources.
October 03, 2023 | 5:54 pm
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Meta's planned layoffs in its Reality Labs division could potentially impact the company's metaverse project development. This may cause investor concern and could negatively affect the company's stock price in the short term.
The layoffs in Meta's Reality Labs division, which is focused on creating custom silicon for its metaverse project, could slow down the project's development. This could lead to investor concern about the company's future prospects, potentially leading to a decrease in the company's stock price.
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