Sensor Tower lays off 40 members of staff, including prominent executives | Pocket

Sensor Tower Announces Layoffs and Corporate Restructuring

Market intelligence firm Sensor Tower has made the difficult decision to lay off 40 members of its staff, including key executives such as the CMO, CPO, and CFO. The company’s finance and marketing departments have been particularly impacted by these changes. While specific details have not yet been revealed, Sensor Tower plans to issue a comprehensive statement later this week.

“Earlier this week, Sensor Tower’s management team took necessary steps to reorganize and right-size our business under a talented and experienced senior leadership team,” said Sensor Tower publicist Melissa Sheer. “We are excited about these changes as we position the company for a balance of continued growth and best-in-class profitability. We will provide more details in the coming days.”

Sensor Tower has experienced significant growth in recent years, thanks to a $45 million investment from Riverwood Capital in 2020. With just 75 employees at the time, the company already boasted an impressive client list that included mobile giants Zynga and Tencent. Furthermore, the acquisition of market intelligence firm Pathmatics in 2021 enabled Sensor Tower to expand its digital and mobile insights capabilities and further expand its client base.

Challenges in the Tech Sector

This round of layoffs is the latest in a series of job cuts that have impacted the tech sector in recent months, affecting even some of the industry’s largest companies. Several mobile gaming companies, including Kabam, Unity, and Electronic Arts, have also been forced to reduce their workforce.

While mobile gaming remains the most profitable gaming platform globally, 2022 has presented challenges for the industry as a whole. The market has returned to normal following the unprecedented “Covid boom,” resulting in declines across various sectors. Although some companies have managed to maintain profitability, the industry as a whole is adapting and taking necessary measures to weather the storm in hopes of a brighter future.

Last week, Sensor Tower conducted an analysis of the puzzle genre’s performance, providing valuable insights into this popular gaming category.