Meta shuts down hardware side projects

In the hardware area, savings are to be made in the future.  Source: Reuters
Meta is based in Mountain View

In the hardware area, savings are to be made in the future.

(Photo: Reuters)

Oakland The Facebook parent Meta shuts down by-products in the hardware sector. These include the portal smart displays and work on smart watches, high-ranking managers announced to the workforce on Friday.

Meta announced on Wednesday that it would cut around three percent of its jobs as part of an austerity program, for a total of around 11,000 jobs. The US group initially did not announce any details or a volume for the further savings it was aiming for.

Meta is suffering, among other things, from growing competition from the video app TikTok, which is chasing Instagram customers away. In addition, CEO Mark Zuckerberg puts billions into the so-called metaverse.

More: Musk warns of existential threat to Twitter – key executives are leaving

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