Magic Leap, the much-hyped augmented reality startup that raised billions for its augmented-reality goggles, is cutting staff and shifting its business to enterprise

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• Magic Leap, the much-hyped smart glasses startup that spent years getting people excited about the future of spatial computing, is pivoting away from consumer tech and laying off half its staff.
• CEO Rony Abovitz announced that the company was making 'targeted' changes to the way it operates, with layoffs happening at 'every level' of the company.
• Magic Leap's first product was released in 2018 and overlaid digital imagery onto the real world. The company had planned to follow up with a more mainstream product down the line.
• Visit Business Insider's homepage for more stories.

Magic Leap, the smart glasses startup that spent years building hype as the next big thing in augmented reality, has announced it is restructuring its business away from the consumer market and laying off a number of employees.

In a blog post titled "Charting a new course," Magic Leap CEO Rony Abovitz announced that the company would be pivoting away from the consumer business to focus on enterprise.

See the rest of the story at Business Insider

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