On January 13th, Meta Platforms (META.O) revealed plans to lay off more than 1,000 workers from its Reality Labs unit. This move aligns with the company's strategic pivot, redirecting resources away from virtual reality (VR) and metaverse offerings and towards artificial intelligence (AI) wearable gadgets and smartphone features. In an internal memo, Chief Technology Officer Andrew Bosworth informed that employees would start getting layoff notifications from Tuesday morning onwards. Foreign media sources indicate that this round of layoffs will impact roughly 10% of Reality Labs' workforce, which numbers around 15,000. A spokesperson for Meta commented, "We indicated last month that we would reallocate some of our metaverse investments towards wearable devices. This current round of layoffs is a direct extension of that approach, and we intend to redeploy the saved funds to fuel growth in our wearable technology sector this year."