There are reports that Pico, the manufacturer of headset VR, has announced a significant layoff of over 1,000 employees, resulting in the company’s workforce being reduced to only a few hundred. Pico representatives have confirmed the news of the layoffs, stating that the company has undergone organizational restructuring to focus on the development of crucial hardware and technology. However, they have not confirmed the exact number of employees affected.
Currently, Pico is owned by ByteDance, a major technology company that owns TikTok, following the acquisition in 2021.
TLDR: Pico, the VR headset manufacturer, has undergone a significant layoff of more than 1,000 employees, leaving only a few hundred in the company. The restructuring aims to prioritize hardware and technology development. Pico is now owned by ByteDance, the parent company of TikTok.