New Delhi, July 21: Magic Leap, the augmented reality (AR) startup, reportedly laid off its entire sales and marketing teams or about 75 employees.  Multiple reports suggest that the AR startup is shifting its focus toward technology licensing, which has led to these job cuts.

As per a report of The Verge, Magic Leap lays off its entire sales and marketing teams. The job cuts affected nearly 75 employees. As part of the restructuring, the company is said to be seeking to refocus its business strategy. As per reports, Magic Leap plans to provide components to other companies who want to create their own headsets. Magic Leap will give two months of severance pay to the employees who are leaving, according to a report of Silicon ANGLE. NetherRealm Studios Layoffs: Gaming Studio Lays Off Its Mobile Team, Shutting Down Mortal Kombat Onslaught; Check Details.

The company was started in 2010 and specialises in creating mixed-reality headsets. Their first device, the Magic Leap One, came out in 2018. Two years after launching the Magic Leap One, the company laid off half of its employees and decided to shift its focus to the enterprise market. The Magic Leap 2, an improved version of the Magic Leap One was launched in 2022, which was lighter, comfortable and offered a wider field of view.

Reports indicate that Magic Leap owns many patents around the world. Some of these patents are for their optics technology, which helps to reduce common problems in mixed reality headsets. These problems include blurry images and an issue known as vergence accommodation, which can lead to eye strain. According to a report, the company will now shift its focus to licensing the optical technology that makes its headsets work to other companies. Amdocs Layoffs: Software Firm To Lay Off Around 3,000 Employees Amid Restructuring Plans; Check Details.

The optical technology includes the hardware components that the headset uses to show contents. It is said that the Magic Leap optical technology eliminates the need for certain parts in headsets called external refractive lenses, which will likely allow the company to make their devices smaller and more compact.

(The above story first appeared on LatestLY on Jul 21, 2024 06:29 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).