Unity Software to cut 1,800 employees, about 25% of staff
UNITY Software, which replaced its chief executive officer in October, plans to reduce its workforce by 25 per cent, eliminating about 1,800 jobs.
The San Francisco-based company, which makes software used by video game creators, said in a filing on Monday (Jan 8) that it cannot yet estimate the costs associated with the cuts, which are designed to improve long-term profitability.
A Unity representative did not immediately respond to a request for comment. The company has undergone multiple rounds of layoffs in recent months.
John Riccitiello stepped down as CEO in October following a controversial tenure that included rebranding Unity as a metaverse company. He was succeeded by technology veteran James Whitehurst, who is interim CEO.
Popular mobile games such as Pokemon Go and Marvel Snap use Unity’s products. The company implemented price hikes last year that angered many customers and later reversed those plans.
In November, Unity said it would reduce staff by 3.8 per cent as part of a company “reset”. In May, management said it would lay off 8 per cent of its workforce.
Shares of Unity rose as much as 4.8 per cent to US$40.87 in extended trading after the filing. The stock gained 43 per cent last year as sales rose and losses narrowed. BLOOMBERG
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