18 October 2022
Meta announced a massive layoff last week where it cut down on 11,000 jobs globally. These accounted for 13% of the total workforce and as one would have expected, it has affected projects the company was working on and investing money in. Reuters has reported Meta has decided to pull the plug on Portal devices and under-development smartwatches projects.
The revelation is said to have been made by Meta's top executives during a town hall meeting with the remaining employees. Portal are smart home devices that work like Google's Nest Home. These devices were initially meant for general consumers and even though the company saw some growth in sales during the pandemic, it was not enough for it to keep going. This is the reason it decided to move to the enterprise segment earlier this year.
It seems like the company does not see any sense in pursuing the enterprise segment either. Andrew Bosworth, Chief Technology Officer at Meta is said to have said, "It was just going to take so long, and take so much investment to get into the enterprise segment, it felt like the wrong way to invest your time and money."
The company is further said to have abandoned the smartwatch project it was working on for some time. There were rumors of Meta developing two smartwatches but none of them will see the light of day now. It has decided to utilize the smartwatch team for working on its augmented reality efforts.