Unity confirms 265 job cuts as part of reset for the company

Date:
Wed, 29 Nov 2023 14:22:33 +0000

Description:
Unity has confirmed it's terminating its services agreement with Wt FX, which will result in 265 job losses.

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Unity has confirmed that its laying off 265 employees in whats been described as a company reset.

Reported by Reuters , Unity is terminating the professional services section of an agreement with visual effects company Wt FX, which was co-founded by Peter Jackson and previously produced the visual effects for movies such as Avatar and its sequel, as well as The Lord of the Rings trilogy. Unity bought its engineering and technology division in 2021 for $1.6 billion (1.2 billion), the BBC reported at the time . Now, the employees whose roles
relate to this agreement will be losing their jobs, cutting Unitys workforce by 3.8% (from roughly 7,000 employees).

Sadly, job cuts at Unity have been on the cards for a few weeks now . In the companys Q3 shareholder letter, which was published on November 9, Whitehurst said that Unity is not executing to our full potential. He said: We aim to address these opportunities to emerge as a leaner, more agile, and faster growing company.

The same letter revealed that the company had begun a comprehensive
assessment of its product portfolio which would also evaluate the right cost structure that aligns with the more focused portfolio. It said that it plans to complete all interventions by the end of Q1 2024, which will likely
include discontinuing certain product offerings, reducing our workforce, and reducing our office footprint.

Linking into this, in the latest announcement, it was also confirmed that Unity is shutting down offices in 14 locations. Furthermore, employees will
no longer be required to work in an office three days a week.

The interim CEO of Unity, Jim Whitehurst, also told Reuters that more changes are on the way in order to refocus Unitys business. He added: "While no additions have been finalized, it's clear that we will reduce the number of things we are doing overall.

This year, Unity also announced its controversial runtime fee , which initially would have seen developers hit with an extra fee per install on all games made in Unity once they passed certain income and download thresholds. Unity received significant backlash for this, and later announced some
changes which now mean that the fee will only affect games made using the
2024 Long-Term Support, and only for developers using Unity Pro and Enterprise.

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indie games , as well as the best indie horror games if youre looking for something spooky.



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Link to news story: https://www.techradar.com/gaming/unity-confirms-265-job-cuts-as-part-of-reset- for-the-company


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