Facebook's parent company, Meta, is set to announce the layoff of employees in its Reality Labs division's silicon unit, focusing on metaverse development. The announcement will be made publicly later today. Employees will receive notifications about their status with the company later in the day.

This round of layoffs may result in job losses in the Metaverse division.

Meta, the tech giant, is reportedly undergoing significant layoffs to streamline its augmented and virtual reality (AR) product development. The company's FAST unit, which designs custom chips for AR/VR devices, is a key area of concern. The restructuring was announced after a new executive was appointed to lead the division. Meta has also announced the Quest 3 headset and is working on advanced AR glasses and smartwatches. The first version of these products is expected to be completed next year, but may not be widely available to consumers at first. The company has cut about 21,000 jobs since November to reassure investors due to declining revenue growth, rising inflation, and significant financial losses in the Reality Labs division. Most layoffs are expected to occur in spring, with some extending through the year's end in limited cases.