Unity to Make Significant Staff Cuts by End of Q1 2024
Game software development company Unity is planning to make cuts to its staff before the end of Q1 2024, according to the company’s Q3 shareholder letter. Interim CEO Jim Whitehurst stated that while the company sees an opportunity for growth, it is not executing to its full potential at the moment. Unity is aiming to address these issues and emerge as a leaner, more agile, and faster growing company.
As part of this plan, Unity has started a comprehensive assessment of its product portfolio to focus on the most valuable products for its customers. The company is also evaluating the right cost structure that aligns with the more focused portfolio. Final decisions on these changes are expected to be made over the next few weeks with the full plan anticipated to be rolled out within the quarter.
The plan is likely to include discontinuing certain product offerings, reducing the workforce, and reducing office footprint, according to the letter.
Unity’s decision to make staff cuts comes after a turbulent period for the company, including the announcement of the controversial “Unity Runtime Fee” and the retirement of former CEO John Riccitiello.
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