Meta’s Reality Labs Had Its Best Quarter Yet, But is Still a Money Pit
Meta's Reality Labs, the division responsible for its virtual reality endeavors, had its best quarter ever, but still lost more than $4 billion.
Meta Lays Off 10,000 More Workers Ahead of a ‘Year of Efficiency’
Calling it a move to a "year of efficiency," Meta CEO Mark Zuckerberg has announced that the company will lay off 10,000 more workers and is closing about 5,000 open job listings.
Meta is Preparing to Lay Off Thousands More Employees
Meta, the parent company of Facebook and Instagram, is gearing up for another round of layoffs that are expected to affect thousands of employees.
Instagram Head Feels ‘Urgency’ in Trying to Make Reels Work
Instagram head Adam Mosseri says the social media platform is facing "urgency" to make Reels work after its parent company Meta had $80 billion wiped off its market value last month.
Meta’s Free Fall Continues, Company’s Value Plunges More Than $65B
Meta, the parent company of Facebook and Instagram, continued its free fall in 2022. The company had more than $65 billion wiped off its market value after it reported another quarter of declining revenues.
Meta’s Reality Labs Loses $2.8B as Facebook’s Revenue Falls for First Time
Meta is currently experiencing a combination of financial difficulties that, in its long history, it has never faced. Its Reality Labs division continues to lose billions of dollars at the same time Facebook reported its first-ever decline in revenue.
Meta Experiencing ‘One of the Worst Downturns in Recent History’
Following massive losses in its Reality Labs division, Meta CEO Mark Zuckerberg has reportedly told employees that the company is experiencing "one of the worst downturns [it has seen] in recent history."
Meta Appears to be Slashing Camera Products Amid Massive VR Losses
Meta appears to be pulling back on its consumer camera products, both those on shelves and in development, as its Reality Labs division continues to lose billions of dollars.