Meta is getting ready to reduce its hardware division.

According to an exclusive Reuters report Published on Wednesday, it was stated that staff at Facebook and Meta Platforms should be ready for potential job reductions. This follows a review of statements made by Andrew Bosworth, the CTO of Reality Labs, who hinted that announcements regarding changes would be forthcoming.

A representative from the company validated Bosworth's statements, which were made during a question-and-answer session. He mentioned that there isn't sufficient funding to concentrate on particular projects. Some initiatives might experience delays, although it wasn't specified which ones. The spokesperson also assured Reuters that layoffs wouldn't be included among the changes. Meta This development comes on the heels of Meta investors discovering in April that the company was seeking to cut expenses in light of a decline in Facebook's user activity, which negatively affected its stock value.

The news regarding potential cutbacks and the lowered expectations from investors stands in stark contrast to efforts to generate greater public enthusiasm for the company, a push that Mark Zuckerberg hinted at earlier this week through a video he shared on his Instagram account.

In April, Zuckerberg’s comments to investors suggested he is focusing on a long-term vision. As noted by Reuters, Reality Labs is currently operating at a loss, having reported $10.2 billion in losses last year and another $3 billion in the first quarter of 2022. Nevertheless, Zuckerberg expressed optimism that the profits from Meta's suite of applications—such as Instagram and WhatsApp—would eventually subsidize Reality Labs and drive it into profitability. Project Cambria With the anticipated price of Project Cambria set at $799, Facebook aims to achieve that profitability sooner rather than later, even if it doesn't materialize within 2022.

NASA has launched a virtual reality challenge aimed at helping to prepare astronauts for future missions to Mars. Instagram Meta is developing an innovative AI-driven platform that has the potential to enhance medical research and upgrade user avatars.

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