Game software provider Unity Software is cutting 25% of its total workforce. In a filing with the US Sec, Unity announced that it plans to reduce approximately 1,800 employee roles, or approximately 25% of its current workforce. The company said that the layoffs are taking place “as it restructures and refocuses on its core business, and to position itself for long-term and profitable growth.”
Unity didn’t reveal how much the layoffs will help in reducing the costs.“At this time, Unity cannot reasonably estimate the costs and charges in connection with this reduction, which it expects will be substantially incurred in the first quarter of 2024,” the company said in the filing. “The charges will primarily relate to employee transition, severance payments, and employee benefits,” Unity mentioned
The company is known for its popular game development engine used in hits like Pokemon Go, Call of Duty: Mobile, and Beat Saber.
The news comes just months after former CEO John Riccitiello stepped down and James Whitehurst, previously head of Red Hat, took the helm. Whitehurst, known for his restructuring expertise, has been tasked with navigating Unity through a challenging economic climate and an increasingly competitive gaming landscape.
According to a report by Reuters, Whitehurst sent a memo to all employees. “We are … reducing the number of things we are doing in order to focus on our core business and drive our long-term success and profitability,” he said.
This isn’t the first time Unity has laid off employees in recent months. In May 2023 about 8% — or 600 employees — of the workforce was laid off. Then in November again close to 265 employees were sacked. Unity, back in May, said that the cost cutting measures will help “long-term and profitable growth.”
Unity didn’t reveal how much the layoffs will help in reducing the costs.“At this time, Unity cannot reasonably estimate the costs and charges in connection with this reduction, which it expects will be substantially incurred in the first quarter of 2024,” the company said in the filing. “The charges will primarily relate to employee transition, severance payments, and employee benefits,” Unity mentioned
The company is known for its popular game development engine used in hits like Pokemon Go, Call of Duty: Mobile, and Beat Saber.
The news comes just months after former CEO John Riccitiello stepped down and James Whitehurst, previously head of Red Hat, took the helm. Whitehurst, known for his restructuring expertise, has been tasked with navigating Unity through a challenging economic climate and an increasingly competitive gaming landscape.
According to a report by Reuters, Whitehurst sent a memo to all employees. “We are … reducing the number of things we are doing in order to focus on our core business and drive our long-term success and profitability,” he said.
This isn’t the first time Unity has laid off employees in recent months. In May 2023 about 8% — or 600 employees — of the workforce was laid off. Then in November again close to 265 employees were sacked. Unity, back in May, said that the cost cutting measures will help “long-term and profitable growth.”
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