Note that this was a 10% cut. Meta has a lot of staff. They are also slightly pivoting to AR glasses, as they say Ray-Ban Display sales are much higher than anticipated. I think they see their chance of cornering the VR market as gone (probably because of android xr) (see https://www.uploadvr.com/meta-pauses-third-party-horizon-os-headsets/ ) but think they have a chance to dominate AR glasses / wearables.
Note that this was a 10% cut. Meta has a lot of staff. They are also slightly pivoting to AR glasses, as they say Ray-Ban Display sales are much higher than anticipated. I think they see their chance of cornering the VR market as gone (probably because of android xr) (see https://www.uploadvr.com/meta-pauses-third-party-horizon-os-headsets/ ) but think they have a chance to dominate AR glasses / wearables.