Gaming company Unity likely to layoff employees to cut costs

San Francisco, Nov 10 (SocialNews.XYZ) Game development software company Unity has announced that it will “likely” go for layoffs as part of cost-saving measures.

The company said that several weeks ago, it started a comprehensive assessment of its product portfolio to focus on those products that are most valuable to its customers.

In its Q3 earnings report, Unity said that it is also evaluating the right cost structure that aligns with the more focused portfolio.

“We are acting quickly and expect to make final decisions over the next few weeks. We expect to start implementing the plan within this quarter and expect to complete all interventions before the end of the first quarter of 2024,” said the company.

This move will “likely include discontinuing certain product offerings, reducing our workforce, and reducing our office footprint," the game developer added.

The exact timing of these interventions is difficult to estimate, said the company, adding that it is not providing guidance for the fourth quarter or the full year 2023.

In September, Unity announced a new pricing model that was met with backlash from developers.

In October, Unity CEO John Riccitiello announced his retirement and the company amended its pricing model after outcry from the gaming community.

“The Board will initiate a comprehensive search process, with the assistance of a leading executive search firm, to identify a permanent CEO,” the company said, adding that James Whitehurst will step in as interim CEO, president, and board member.

Source: IANS