In its Third quarter earnings report released ThursdayGame development software company Unity announced it will “likely” implement layoffs as part of broader cost-saving measures.
In the report, the company says it is evaluating its product portfolio “to focus on those products that are most valuable to our customers” and is “evaluating the appropriate cost structure that aligns with the most focused portfolio.” It plans to make changes during the fourth quarter, and they will “likely include discontinuing certain product offerings, reducing our workforce, and reducing our office footprint.” The company expects to complete its changes before the end of the first quarter of 2024.
Layoffs have become an unfortunate trend in the video game industry this year. Entire studios have been closed, while companies commit mass layoffs following predatory acquisitions. News of possible layoffs and restructuring at Unity comes even as the same earnings report indicated the company’s third-quarter results were “mixed” and revenue fell within expectations. “While revenue was on target, we believe we can do better,” the report said.
