Meta, the parent company of social media platforms including Facebook, WhatsApp and Instagram, has decided to pull the plug on Meta Connectivity. Formerly called Facebook Connectivity, this unit was set up in 2013 to provide internet connections in underserved areas, The Economic Times reported.
The development seems to be a part of the restructuring process for the tech giant. Recently Meta CEO, Mark Zuckerberg, announced that it would lay off 13 per cent of its workforce in an attempt to keep the company on the profitability track.
Employees currently working in this segment will be placed in the ‘Infra’ and the ‘Central Products’ teams, The Economic Times reported.
After launching its connectivity platform in 2013, Meta explored multiple ways to deliver free internet to people. It developed Facebook Aquila, a solar-powered drone to joist connectivity in remote areas of the world.
Currently, the company is witnessing a major upheaval in global business. Sources said that Meta lost $9 billion by October 2022, one billion lesser than the previous year.
However, Meta seems to bet big on Metaverse amid the turmoil. It recently launched its flagship Quest Pro headset and indicated that it would come up with next-generation products in the upcoming years.
Sources said Meta is planning to continue with telecom ecosystem partners and participate in the Telecom Infra Project (TIP) launched at Mobile World Congress (MWC) in Barcelona in 2016 aiming to develop standards for various telecom technologies.