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Many upcoming projects would be halted by Meta’s firing 11000 employees

Late last week, Meta took the drastic step of laying off 11000 employees, which had made headlines, even overshadowing Twitter’s recent major layoffs. It is an inevitability that a move of this magnitude will have a detrimental effect on the upcoming projects of the social networking giant as a result of this move.

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According to a source experienced in the industry, Meta will cease development of the Portal smart display and the two unreleased smartwatches within the next few days. In a town hall meeting that was held at the company, chief technology officer Andrew Bosworth provided the employees with this information. It has been reported that he has made a statement regarding the decision to suspend work on Portal, noting that the process of bringing it into the commercial sector would take a long time and would require a large amount of investment, noting that “it felt like the wrong direction to take [the project].”

During the peak of the COVID-19 pandemic, according to an other source, there was a brief period when the Portal allowed people to communicate who were unable to do so in person during the height of the epidemic. The demand for Meta software, however, outstripped supply as soon as the world reopened this year, so Meta chose to move beyond individual consumers and start targeting enterprises instead. It was revealed by a source in June of this year that the market share of the Portal was less than 1% of the market share of smart displays worldwide. There is no doubt that Meta’s smart display could not compete with its rivals, despite the transient increase in sales during the pandemic, despite the transient increase in sales during the pandemic.

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A smartwatch program that has been in development for some time and that has been kept under wraps by Meta as has been its routine, but it appears this endeavor has also come to an end. There has been a report that the smartwatch team will concentrate on Meta’s augmented reality technology rather than the smartwatch itself,

Additionally, top Meta executives have revealed that 54% of the employees to have lost their jobs last week held positions in the business sector, with the remaining pink slips being given to individuals working in the technology sector. With the reorganization, the corporation will establish a team specifically focused on overcoming engineering challenges that may arise during the course of the reorganization.

I am uncertain as to whether or not the minutes of the internal town hall were meant for public dissemination, but it is clear that there is going to be a major internal restructuring going on. While other initiatives have been closed there is still no indication that the corporation will turn away from its commitment to the metaverse, in spite of the fact that it has placed a significant bet on this project.

NetMag Staff
NetMag Staffhttp://www.netmag.pk
We feel pleasure in introducing ourselves as a publishing company and our monthly magazine, “NetMag” as Pakistan's first IT & Telecom magazine. The past 22 years ...


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