Unity Software To Layoff 1,800 Workers
Unity Software (U.N) plans to lay off nearly 25 per cent of its workforce, or 1,800 workers, according to a regulatory filing and internal corporate document released on Monday, as per Reuters.
Following the announcement, Unity shares rose roughly 5 per cent in after-hours trade.
This is the San Francisco-based company's greatest layoff to date, with completion likely by the end of March, the company said. While Unity is not well-known outside of the gaming industry, over 1.1 million game designers use its software toolkit each month, including the creators of the popular "Pokemon Go," "Beat Sabre," and "Hearthstone" titles.
The company informed Reuters that the severe job layoffs announced on Monday will affect all teams, locations, and aspects of the business. The layoffs occurred shortly after interim CEO Jim Whitehurst declared a "company reset" in November.
In September of last year, the business attempted to implement a new "runtime fee" pricing structure, charging extra fees to its game developers if certain revenue and install thresholds were met. Following a developer mutiny and a sharp decline in share price, the firm revised its new fees.
