Unity’s latest layoffs come amid broader workforce reductions across much of the tech industry. The Company offers 3D contents for online, console, mobile games, virtual reality, and other forms of.
#Unity technologies software
The company is expected to release its Q1 earnings next week. Unity Technologies SF provides software services. Per CNBC, Unity’s stock is down 11 percent since the start of the year. Despite that performance, investors don’t appear to be impressed with the company. It was also Unity’s first profitable quarter as a publicly traded company. In February, the engine maker reported a Q4 revenue of $451 million, representing a 43 percent increase from the same period in 2021. Real-time development platform for game devs, artists, architects, automotive designers, filmmakers, and beyond 3D, 2D, AR & VR madewithunity. The layoffs come despite Unity recently posting its best fiscal quarter and year in company history. “It was clear we had too many layers.” Riccitiello also said Unity would move to a hybrid work model starting in June, with employees expected to work from the office at least three days a week. Unity Software announced plans to cut about 600 jobs, or 8 of its workforce, according to a company filing Tuesday with the Securities and Exchange Commission. Unity Software U 4.31 stock was rising sharply Thursday after the company raised full-year guidance and said it was working toward profitability through its embrace of artificial intelligence.
“It’s all about setting ourselves up for higher growth,” he told the outlet, adding the layoffs would affect some in middle management. A spokesperson instead pointed Engadget to a filing the company made with the US Securities and Exchange Commission, as well as a recent interview CEO John Riccitiello did with The Wall Street Journal. Unity also plans to reduce the number of offices it operates globally. Unity Software announced plans to cut about 600 jobs, or 8 of its workforce, according to a company filing Tuesday with the Securities and Exchange Commission. Prior to the first round of workforce reductions, the company employed more than 8,000 staff. The company previously laid off about 225 staffers last June, and another 284 employees at the start of the year. On Tuesday, the company shared it would let go of approximately 600 employees or about eight percent of its global workforce. For the third time in less than a year, Unity is laying off a part of its workforce.
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