FACEBOOK is said to be abandoning its smart display products due to apparent cost cutting.
Already, the social network announced that 11,000 of its employees will be fired as it faces rising costs and a weaker advertisement market. It relies heavily on this market to make it money.
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We are now starting to see the end of the rope, and Meta’s Portal video-calling device appears to be one of the biggest victims.
According to Reuters employees were told Friday that the company would reduce its non-core hardware products.
Meta had already quietly repositioned Portal to be a business-only device. However, the latest reports indicate that it will soon be pulled completely.
The company is also abandoning plans to make two smartwatches.
Portal was first released in 2018 and is a smart display that allows users to video call each other using Facebook Messenger.
It comes with Alexa so that users can perform tasks using their voice.
Meta is yet not to confirm the plans.
It’s unclear what these massive changes will mean to anyone who has a Portal device.
Mark Zuckerberg, 38, He admitted that he misunderstood the growth strategy of the social network last week, when it announced massive layoffs. This amounts to 13% of its global 87,000-person workforce.
It is the first job cut in Meta’s 18 year history.
He described the painful moment as “the most difficult changes we’ve made in Meta’s history”.
It comes as the firm has also taken a massive gamble with Zuckerberg’s metaverse dream, ploughing billions into the project.
Unlike most companies, Facebook was one of the few winners during Covid as the world depended on online platforms.
But Zuckerberg admitted he was wrong to significantly increase investments, believing Meta’s surge during the pandemic would continue.
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