Unity Technologies, renowned for its game engine and development platform, has reportedly announced the likely reduction of its workforce. The decision comes as the development platform evaluates its product portfolio, focusing on those most valuable to its customers, adhering to a “customer-first business model.” The announcement was made in the Q3 earnings report document, stating that these “interventions” are expected to be complete by the first quarter of 2024.
The exact timing and date of the layoffs and other interventions are yet to be determined, making it “difficult to estimate.” Unity also plans to discontinue specific product offerings and reduce its office footprint. This move follows a Q3 report indicating “mixed” profits, with total revenue amounting to $544 million, a significant 69% year-over-year increase.
Further details outline Unity Technologies’ future actions to improve performance and drive revenue by focusing on tighter integration for its “create solutions and grow solutions” organizations, as well as Unity’s “Editor, Runtime, and Monetization Solutions.” The company emphasizes the need to become a “leaner, more agile, and faster-growing company.”
This move is part of a recent trend, with game development companies and other Big Tech firms conducting wide layoffs for both tenured and new employees. Ubisoft Montreal’s staff reductions and Epic Games’ layoffs stand as examples of this trend. Even the developer of Cyberpunk 2077 implemented layoffs.
The recent layoffs in the tech industry, seen at companies like Amazon, Google, Microsoft, Meta, and Apple, reflect a reversal of employment practices implemented during the COVID-19 pandemic, notably due to the increased utilization of AI or automation within these businesses. Some job tasks now have platforms that aim to automate routine tasks.
I have over 10 years of experience in the cryptocurrency industry and I have been on the list of the top authors on LinkedIn for the past 5 years. I have a wealth of knowledge to share with my readers, and my goal is to help them navigate the ever-changing world of cryptocurrencies.
