Meta's fresh layoffs trigger major sell-off

Meta Platforms Inc. (NASDAQ: META) began slashing over 1,000 jobs from the company’s Reality Labs division. This is part of a plan to redirect resources toward AI wearables and phone features from virtual reality and metaverse products. The metaverse push, which CEO Mark Zuckerberg once described as “the next chapter of the internet,” has proven especially expensive for the company. Related: The Metaverse Promises a Big Bang. What If It Was Just a Publicity Stunt? Meta's metaverse fails to get traction ...