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The first Big Tech layoffs of 2026 have happened. This week, Facebook owner Meta Platforms reportedly informed employees that up to 1,500 positions in its Reality Labs division would be eliminated. Heres what you need to know about the job cuts. Whats happened? Meta this week notified employees in its Reality Labs division that up to 10% of jobs could be lost, according to a Bloomberg report. A day earlier, the New York Times reported that the layoffs were expected. Reality Labs is a division of the social media giant primarily responsible for developing the companys augmented and virtual reality products. The division was responsible for spearheading Metas failed metaverse virtual-reality world. How many jobs are being lost? An exact figure is not known, but according to media reports, Meta is aiming to cut about 10% of its Reality Labs workforce. The division reportedly employs about 15,000 workers, so a 10% reduction equates to around 1,500 jobs lost. Bloomberg reviewed an internal post to Meta’s employees from the company’s chief technology officer, Andrew Bosworth. In that post, Bosworth announced the 10% layoff estimate. Fast Company has reached out to Meta for comment. Why is Meta laying off workers? In the internal post Bosworth sent to employees, the CTO reportedly announced that Meta was shifting its priorities away from virtual and augmented reality, while metaverse resources will focus more on mobile device experiences as opposed to VR headsets. At the same time, Bosworth also confirmed that Meta was looking to cut back on its investments in virtual reality (VR) in order to make its business more sustainable. A Meta spokesperson confirmed to Bloomberg that the company plans to reinvest the savings [from the Reality Labs cuts] to support the growth of wearables this year. The metaverse never took off The fact that Meta is reprioritizing its areas of focus to AI and mobile is of little surprise to those familiar with the companys metaverse virtual world initiatives. In 2021, Meta CEO Mark Zuckerberg announced that the social media company, formerly known as Facebook, would be pivoting to the next frontier of technology: virtual worlds. In October of that year, Zuckerberg announced the metaverse, and was so certain that the future of tech was VR that he even decided to change the companys name from Facebook to Meta. But in the more than four years since Meta went all-in on the metaverse, consumer interest in virtual reality worlds never developed beyond a niche appeal. Moreover, the arrival of ChatGPT in 2022 made clear that the next era of computing was AI, not VR. Since then, Meta has gone all-in on AI, and its metaverse products have languished as a result. Shares of Meta Platforms (Nasdaq: META) were down more than 2% in midday trading on Tuesday after the news broke. Metas job cuts are the largest tech layoffs of 2026 so far The Reality Labs job cuts have earned Meta the distinction of having the largest layoff round of any prominent tech company in 2026 so far. Many in the tech industryparticularly those working in non-AI sectors and divisionswill now likely be wondering whether other companies will follow suit and eliminate jobs in legacy divisions as tech firms continue to go all-in on AI development. According to data compiled by Layoffs.fyi, total tech layoffs in 2025 resulted in neqrly 124,00 jobs lost at 269 tech companies. While significant, the annual level of tech job layoffs has been decreasing since 2022, according to the site. In 2022, there were more than 165,000 tech layoffs. That number rose to nearly 265,000 in 2023, before falling to around 152,000 in 2024.
Category:
E-Commerce
New AI tools from Docusign aim to make contracts easier to understand and quicker to prepare. For people signing documents like leases or purchases agreements, a new AI feature will make it possible to request an overall summary of the contract and its key terms. Users will also be able to ask questions about the document, which for consumer agreements could include requesting details about cancellation procedures, fees that may apply, relevant timelines, or terms of a warranty. The whole purpose of this is to allow and provide a level of trust to the signer so that they understand what is it that they’re signing, says Mangesh Bhandarkar, GVP of product management at Docusign, and help them get through the signature process in a much quicker way, with a better understanding of the agreement itself. In a demonstration for Fast Company, Bhandarkar highlighted how the AI could generate a basic summary of a residential lease, automatically pulling out key terms like the rental period, monthly rent, and landlord and tenant responsibilities for various utilities. The AI also answered questions about other terms like pet fees, including links to relevant, highlighted sections of the document. [Image: Docusign] AIs use in the legal field has been controversial, with some AI legal research and analysis plagued by incorrect answers and AI hallucinations. But Bhandarkar says the company feels confident in its Iris AI system, which has been honed specifically to handle contracts based on Docusigns specialized dataset of written agreements and designed to provide in-document citations. We make sure that it is not hallucinating information that is not in the document, he says. Still, Bhandarkar emphasizes that Docusign isnt offering formal legal advice or a substitute for getting a thorough understanding of a contract before signing it. Rather, he says, the company is trying to give a better understanding and a quicker understanding of the makeup of the agreement with relevant data that could help you make an informed decision about the actions you’re taking. [Image: Docusign] Docusign, which says it helps more than 1 billion people sign contracts every year, reports a recent survey indicated that nearly 75% of contract signers would feel more confident with a plain-English AI summary of the documents theyre signing. And some users, Bhandarkar says, are already using general-purpose AI tools like ChatGPT for help in understanding contracts. Theyll now be able to access AI thats both specifically optimized for the task and integrated into the platform theyre already using to review and sign the agreement. The new feature will likely also help organizations that are creating contracts for consumers to sign, since they may see contracts signed faster and with fewer inquiries. Document creators at all plan levels will be able to choose whether to enable signers to use the tool with particular contracts, Bhandarkar says. In recent years, Docusign has rolled out other AI features in moving to offer what it calls an intelligent agreement management (IAM) platform, where organizations can draft, store, and analyze contracts using AI and other tools, in addition to simply collecting signatures from other parties. More than 25,000 customers currently use the IAM platform, Bhandarkar adds. And additional AI offerings aim to make the process of drafting contracts that much faster. Docusigns AI is gaining the ability to automatically detect areas on imported documents such as PDFs that should be turned into digitally fillable fields, making it that much quicker to turn draft agreements into interactive versions without manually dragging and dropping fields, Bhandarkar says. Document creators will naturally be able to preview and edit fields before sending documents out for signature, and field suggestions will be available in all Docusign plans. The companys AI is also gaining the ability to validate email addresses and phone numbers where agreements are sent for signature, in order to reduce cases where documents are sent to the wrong destination. That feature, which will be available in Docusign Business and IAM plans, relies on a mix of internal data from peoples past interactions with Docusign and external data sources, Bhandarkar says. Bhandarkar says Docusign will be tracking metrics like whether users of AI summaries review and sign documents more quickly and to what extent contract creators retain or replace AI-generated fields, which should help the company continue to refine the AI.
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E-Commerce
President Donald Trump will travel to Michigan on Tuesday to promote his efforts to boost U.S. manufacturing, trying to counter fears about a weakening job market and worries that still-rising prices are taking a toll on Americans’ pocketbooks.The day trip will include a tour of a Ford factory in Dearborn that makes F-150 pickups, the bestselling domestic vehicle in the U.S. The Republican president is also set to address the Detroit Economic Club at the MotorCity Casino.November’s off-year elections in Virginia, New Jersey and elsewhere showed a shift away from Republicans as public concerns about kitchen table issues persist. In their wake, the White House said Trump would put a greater emphasis on talking directly to the public about his economic policies after doing relatively few events around the country earlier in his term.The president has suggested that jitters about affordability are a “hoax” unnecessarily stirred by Democrats. Still, though he’s imposed steep tariffs on U.S. trading partners around the world, Trump has reduced some of them when it comes to making cars including extending import levies on foreign-made auto parts until 2030.Ford announced last month that it was scrapping plans to make an electric F-150, despite pouring billions of dollars into broader electrification, after the Trump administration slashed targets to have half of all new vehicle sales be electric by 2030, eliminated EV tax credits and proposed weakening the emissions and gas mileage rules.Trump’s Michigan swing follows economy-focused speeches he gave last month in Pennsylvania where his gripes about immigrants arriving to the U.S. from “filthy” countries got more attention than his pledges to fight inflation and North Carolina, where he insisted his tariffs have spurred the economy, despite residents noting the squeeze of higher prices.Trump carried Michigan in 2016 and 2024, after it swung Democratic and backed Joe Biden in 2020. He marked his first 100 days in office with a rally-style April speech outside Detroit, where he focused more on past campaign grudges than his administration’s economic or policy plans.During that visit nearly nine months ago, Trump also spoke at Selfridge Air National Guard Base and announced a new fighter jet mission, allaying fears that the base could close. It represented a win for Michigan Democratic Gov. Gretchen Whitmer and the two even shared a hug.This time, Democrats have panned the president’s trip, singling out national Republicans’ opposition to extending health care subsidies and recalling a moment in October 2024 when Trump suggested that Democrats’ retaining the White House would mean “our whole country will end up being like Detroit.”“You’re going to have a mess on your hands,” Trump said during a campaign stop back then.Curtis Hertel, chair of the Michigan Democratic Party, said that “after spending months claiming that affordability was a ‘hoax’ and creating a health care crisis for Michiganders, Donald Trump is now coming to Detroit a city he hates to tout his billionaire-first agenda while working families suffer.”“Michiganders are feeling the effects of Trump’s economy every day,” Hertel said in a statement. Will Weissert and Corey Williams, Associated Press
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E-Commerce
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