What happened: Unity Software has announced that it would lay off 600 employees. The layoff round means the company will let go of 8% of its workforce. What the numbers say: The company has struggled financially, with its stock price falling 11% since the start of the year and its earnings falling short of analyst expectations.
Details: This is Unity's third layoff round in a short period. The company let go of more than 500 employees in two rounds of layoffs, one in January and one in June last year. Why it matters: Unity is not the only company in the video game industry to announce layoffs recently, with Electronic Arts and Activision Blizzard also making cuts to their workforce. The tech industry in general is currently going through a major transition, with more than 120,000 employees being let go in 2023 alone. |
