A Florida tech company is laying off dozens of workers

Photo byCanva

Big changes are afoot at Magic Leap, the Florida-based tech company known for its cutting-edge AR headsets. Founded in 2010, Magic Leap has raised an impressive $3.5 billion from investors and has made waves with its high-end AR devices, like the Magic Leap One and Two, which come with a hefty price tag of $3,000. But despite the buzz and big investments, the company is now facing some major restructuring.

In late July 2024, Magic Leap made the tough decision to lay off its entire marketing and sales team—about 75 employees. This move is part of a broader strategy shift. Instead of continuing to sell AR headsets directly, Magic Leap plans to license its technology to other companies. This change marks a significant pivot from their previous business model.

The news is stirring up quite a buzz. While Magic Leap has garnered praise for its innovative hardware, the company has faced mixed reviews from employees. With a rating of 3.3 out of 5 stars on Indeed, Some employees have described the company as having exceptionally talented and intelligent individuals, but they also highlight a chaotic work environment that affects day-to-day operations and overall morale.

Magic Leap’s new direction puts it in competition with other big names in the AR space, such as Samsung’s AR Emoji, HP Reveal, Microsoft’s Hololens, and Google’s ARCore. As the company adjusts its strategy and focuses on licensing, it will be interesting to see how this affects its position in the market and its future developments.

For now, the tech world is watching closely to see how Magic Leap navigates these changes and what impact it will have on the broader AR landscape.