Last year, there was a rumor doing the rounds that Facebook, which was not known as Meta at the time, was working on a smartwatch that would have a sport modular design and tout health features. In short, at first glance, it appeared that the device would be an Apple Watch competitor. Unfortunately, development plans have been scrapped due to a series of setbacks experienced by the company.
Recent Round of Cost-Cutting Decisions Meant That the Rumored Smartwatch Launch Plans Also Had to Be Axed
In an unprecedented move, Reuters states that out of the 11,000 employees, 50 percent have been laid off, and with it, Meta’s plans to develop more smart displays and smartwatches. In a single stroke, the company has canceled what could have been an Apple Watch competitor. The wrist-mounted wearable division will now be tasked with developing augmented reality glasses, according to Chief Technology Officer Andrew Bosworth, who spearheads the company’s Reality Labs department.
It is unclear when those augmented reality glasses will launch, but Apple too is rumored to be working on a pair of glasses, but it will take a few years before these materialize. The report also states that Meta executives are reorganizing other parts of the firm, where they will combine its voice and video calling units with other messaging teams. In doing so, the executives intend to create a brand new division called Family Foundations.
The number of employees removed from Meta represents 13 percent of the total workforce. It is unclear if some of those talented engineers or software developers will jump ship to Apple, but the latter has also enacted a hiring freeze due to a slowing economy. However, the California-based giant will only recruit individuals under certain conditions, so it will not be surprising to hear former Meta employees working on Apple’s augmented and mixed-reality products in the near future.
Meta’s CEO, Mark Zuckerberg, took responsibility for the layoffs, stating that these turn of events happened because of his poor decisions, but also attributed some reasons to a macroeconomic downturn, increased competition, and other factors.
News Source: Reuters
