Mike Issac, reporting for the NYT's Bits blog:
The company has disbanded the team of engineers originally assigned to work on Facebook Home, its custom-made mobile software for Android devices, according to two people familiar with the matter who spoke on condition of anonymity because they were not authorized to discuss it publicly. [...] It has also shifted resources. For instance, Joey Flynn, who was the lead designer for Facebook Home, left the project to design and launch Slingshot, an app similar to disappearing photo sharing service Snapchat. Other former Home team members, like product director Adam Mosseri, have gone on to focus more on other mobile projects. Seems like more than a few people didn't relish the idea of Facebook being the focus of their phone's experience. Update 6/27: The Verge updated its report on this story to say that Facebook clarified that it is, indeed, continuing development of Home.