Florida-Based Company, Magic Leap, Laying Off Dozens - Entire Sales And Marketing Departments

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There have arguably been some exciting new companies in Florida that have earned interest (and money) from investors. I've written about Mark Cuban's investment in Florida-based Kind Designs, which makes living seawalls, as just one example. However, one Florida-based company that attracted a great deal of attention (and money) from investors is now laying off dozens of Florida employees.

About Magic Leap: This tech company was founded in 2010 and it is probably best known for its products Magic Leap One and Two, which are AR headsets. Since its founding, the company has raised $3.5 billion from investors, and its Magic Leap Two headset retails for a whopping $3,000.

Employees on Indeed give Magic Leap 3.3 out of 5 stars. While one person said they worked with "brilliant minds," another said the culture could be a bit "chaotic."

CNet reviewer Scott Stein called the hardware for the Magic Leap 2 "the best I've ever seen."

The Layoffs And Change Of Strategy: The Florida-based company laid off 75 employees in late July of 2024. Specifically, the entire marketing and sales department was reportedly let go. The company is reportedly trying a new strategy in that it is moving away from selling AR headsets and will license them to other companies instead.

Magic Leap is not without competitors including the Samsung AR Emoji, the HP Reveal, the Microsoft Hololens, and the Google ARCore, to name just a few examples.

The author is not affiliated with Magic Leap or any other AR headset manufacturers.