Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Unity Software lays off 25% of workforce By: FOX Business January 09, 2024 at 14:40 PM EST As part of a "reset," Unity Software announced that it will let go 25% of its workforce. The company is restructuring to ensure long term profitability. Unity Software is laying off 25% of its staff as it tries to position itself for long-term profitability. In total, 1,800 people across all teams will be impacted as the company "restructures and refocuses on its core business," according to a Tuesday filing with the Securities and Exchange Commission.The company told FOX Business that the move was part of the company's "reset," which was announced in a shareholder letter in early November. JOB CUTS SURGED 15% IN MARCH, AND LARGE-SCALE LAYOFFS 'WILL LIKELY CONTINUE:' REPORT"This decision was not taken lightly, and we extend our deepest gratitude to those affected for their dedication and contributions," the company said in a statement. "We are committed to supporting impacted employees through this challenging transition."Reuters reported that this is the largest layoff in the company's history.LAYOFFS 2023: TECH COMPANIES LEAD JOB CUTS AMID ECONOMIC UNCERTAINTYThe gaming technology company classifies itself as the "world’s leading platform for creating and operating interactive, real-time 3D content."According to its website, about 70% of the top 1,000 mobile games were made with Unity and more than 18 different platforms run Unity creations.GET FOX BUSINESS ON THE GO BY CLICKING HEREUnity said it can't estimate the costs associated with the reduction in workforce but anticipates that the charges related to employee transition, severance payments and employee benefits will "be substantially incurred" in the first quarter of 2024. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Unity Software lays off 25% of workforce By: FOX Business January 09, 2024 at 14:40 PM EST As part of a "reset," Unity Software announced that it will let go 25% of its workforce. The company is restructuring to ensure long term profitability. Unity Software is laying off 25% of its staff as it tries to position itself for long-term profitability. In total, 1,800 people across all teams will be impacted as the company "restructures and refocuses on its core business," according to a Tuesday filing with the Securities and Exchange Commission.The company told FOX Business that the move was part of the company's "reset," which was announced in a shareholder letter in early November. JOB CUTS SURGED 15% IN MARCH, AND LARGE-SCALE LAYOFFS 'WILL LIKELY CONTINUE:' REPORT"This decision was not taken lightly, and we extend our deepest gratitude to those affected for their dedication and contributions," the company said in a statement. "We are committed to supporting impacted employees through this challenging transition."Reuters reported that this is the largest layoff in the company's history.LAYOFFS 2023: TECH COMPANIES LEAD JOB CUTS AMID ECONOMIC UNCERTAINTYThe gaming technology company classifies itself as the "world’s leading platform for creating and operating interactive, real-time 3D content."According to its website, about 70% of the top 1,000 mobile games were made with Unity and more than 18 different platforms run Unity creations.GET FOX BUSINESS ON THE GO BY CLICKING HEREUnity said it can't estimate the costs associated with the reduction in workforce but anticipates that the charges related to employee transition, severance payments and employee benefits will "be substantially incurred" in the first quarter of 2024.