Unity Software, maker of the popular cross-platform game engine used by developers across the globe, has announced the first major tech layoffs of the new year. In a filing with the Securities and Exchange Commission (SEC) dated January 8, 2024, Unity Software said it will cut “approximately 1,800 employees,” which it says equates to about 25% of its current workforce.
The layoffs are the largest in Unity Software’s history and the fourth round of cuts since July 2022. The company told Reuters that the layoffs will impact all teams in all regions and areas of the company. In a memo to employees on Monday, interim CEO Jim Whitehurst said Unity Software is “reducing the number of things we are doing in order to focus on our core business and drive our long-term success and profitability.”
The job cuts are part of the “company reset” that Whitehurst previously announced in November. At the time, Unity shares (ticker: U) were trading below $30, well below their November 2021 high two years earlier of nearly $200.
The layoffs, which are expected to be completed in the first calendar quarter, will also send an ominous sign to tech workers outside of Unity Software. The sector was hit hard by mass layoffs in late 2022 and throughout much of 2023, with many in the industry hoping that the new year would put the worst of the job cuts behind them.
While Unity has announced the largest round of tech layoffs of 2024 so far, it’s not the first tech company to do so. According to Layoffs.fyi, which tracks job cuts in the tech industry, 13 tech companies have announced 2,358 job cuts in the first nine days of 2024. In 2023, a total of 1,185 tech companies cut 262,242 jobs.
Autentifică-te pentru a adăuga comentarii
Alte posturi din acest grup
Sometimes, you need to shake things up in your career. Maybe the job isn’t as fulfilling anymore. Maybe changing circumstances are pushing you toward a new path. Either way, figuring out what to d
Zipline’s cofounder and CEO Keller Cliffton charts the company’s recent expansion from transporting blood for lifesaving transfusions in Rwanda to retail deliveries across eight countries—includin
When Skype debuted in 2003, it was the first time I remember feeling that an individual app—and not just the broader internet—was radically disrupting communications.
Thanks to its imple
It’s spring, and nature is pulling me away from my computer as I write this. The sun is shining, the world is warming up, and the birds are chirping away.
And that got me thinking: What
Wake up, the running influencers are fighting again.
In the hot seat this week is popular running influencer Kate Mackz, who faces heavy backlash over the latest guest on her runni
Are you guilty of overusing the monkey covering its eyes emoji? Do you find it impossible to send a text without tacking on a laughing-crying face?
Much like choosing between a full stop
