We can now add Magic Leap to the long list of companies laying off employees during this very trying time.

Rony Abovitz, Magic Leap's Chief Executive Officer, confirmed the news following an earlier Bloomberg report that stated the augmented reality startup was "cutting half its workforce."

According to sources close to the matter, that's about 1,000 employees. 

Abovitz took to Magic Leap's site to express the news in a blog post, citing COVID-19 as the reason for a company-wide restructuring. 

"To better prepare Magic Leap for the future, we have taken a close look at our business and are making targeted changes to how we operate and manage costs. This has made it necessary for us to make the incredibly difficult decision to lay off a number of employees across Magic Leap," he said in the statement.  Read more...