The developer of augmented reality glasses Magic Leap laid off 75 employees

Founded in 2010, Magic Leap periodically appears in the news in the context of interest in its developments from major players in the wearable electronics market, but its own augmented reality glasses are still quite expensive and are not widely used. In addition, the company was recently forced to lay off 75 employees.

Image source: Magic Leap

This was reported by Bloomberg, and later representatives of Magic Leap confirmed the information about the cuts. As noted, there were widespread cuts in the sales and marketing department. Without going into detail about the structure of the cuts, Magic Leap representatives explained that the company is now “adjusting its strategy in accordance with market dynamics and emerging opportunities.” The company’s personnel structure is now optimized around technology and software development specialists. It promises to actively support Magic Leap’s customers and developers who collaborate with it within the proprietary ecosystem.

Released in 2018, Magic Leap augmented reality glasses were not a significant market success. Having abandoned its ambitions to conquer the retail market, the company subsequently tried to focus on the commercial segment. It is expected that as a result of recent cuts, the company will focus primarily on licensing its developments. The main know-how of Magic Leap is its special optics, which allows you to effectively combine virtual images with a picture of the real world.

At the end of May, Magic Leap announced a partnership with Google, which previously invested in this startup. Last year, there were rumors about Magic Leap negotiating with Meta✴ Platforms. In 2020, the first of the companies had to lay off 1,000 employees, and it is difficult to say how large its staff is after the recent layoffs. Magic Leap employees who lost their jobs this year received severance pay equal to two months’ salary and had to sign a non-disclosure agreement.

admin

Share
Published by
admin

Recent Posts

Samsung Unveils Ultra-Slim Galaxy S25 Edge Smartphone for €1,249: Dual Camera, Snapdragon 8 Elite, and 3,900 mAh Battery

Samsung has officially unveiled the Galaxy S25 Edge, its thinnest and most sophisticated smartphone. The…

10 hours ago

IPhones to Learn to Work Longer on Battery Life — Apple to Handle Power Management to AI

Apple is preparing a major update for the iPhone with the release of iOS 19,…

12 hours ago

Google and Elementl to Develop Three 600-MW Nuclear Projects in the US

Google has entered into a strategic agreement with Elementl Power, a leading developer of nuclear…

12 hours ago

IOS 18.5 Released, Bringing Free Satellite Communications to iPhone 13

Apple has released iOS 18.5, and one of the main innovations of the operating system…

13 hours ago

Doom: The Dark Ages Mistakenly Released on Steam Early, But Not for Everyone

Although there are still a few hours left before the launch of extended access to…

15 hours ago

Why aren’t today’s semiconductors good enough for AI?

The smaller the manufacturing standards by which a chip is made, the higher its density…

2 days ago