Home » Business News • US Employment News » Unity Software cuts 1,600 jobs in latest tech layoffs
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Videogame maker Unity Software has announced it will cut around 1,800 jobs.
This move is one of the first major job cuts in the tech sector this year.
The decision, outlined in a securities filing, is to restructure and refocus the company on its core business for sustained and profitable growth.
The reductions will impact teams across the organization.
Xerox recently confirmed a 15 percent layoff of its 23,000-member global staff to shift focus towards services rather than photocopiers.
The dismissals may signal another challenging year ahead for the tech sector.
The industry faced substantial workforce reductions in the previous year due to economic difficulties and overly optimistic growth projections.
While many tech companies have hope for the future, few have fully recovered the sales momentum experienced before the pandemic, leading to an excess of hired employees.
Unity Software has undergone job cuts, including 265 positions in November after an earnings call where interim CEO James Whitehurst announced a company "reset."
The company said, “this decision was not taken lightly” and that it’s committed to supporting affected employees during this transition.
Unity, headquartered in San Francisco, is a crucial player in the video game industry.
It provides software that underlies the games of over two million developers globally.
Unity faced backlash from game developers worldwide last fall over a pricing structure change, leading to adjustments after a substantial outcry.
The company's former CEO, John Riccitiello, who championed the pricing change, stepped down in October after nine years at the helm.
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