{"id":521043,"date":"2024-01-09T07:42:32","date_gmt":"2024-01-09T05:42:32","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=521043"},"modified":"2024-01-09T07:44:08","modified_gmt":"2024-01-09T05:44:08","slug":"unity-software-slashing-1800-workers","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/gaming\/521043-unity-software-slashing-1800-workers.html","title":{"rendered":"Unity Software slashing 1,800 workers"},"content":{"rendered":"<p>Unity Software Inc., which replaced its chief executive officer in October, plans to reduce its workforce by 25%, eliminating about 1,800 jobs in a new round of cuts.<\/p>\n<p>The San Francisco-based company, which makes software used by video game creators, said in a filing Monday it can\u2019t yet estimate the costs associated with the moves, which are designed to improve long-term profitability.<\/p>\n<p>The reductions are part of a \u201ccompany reset\u201d outlined in November, Unity said in an emailed statement.<\/p>\n<p>At that time, management said it was reducing staff by 3.8%. That followed an 8% cut in May.<\/p>\n<p>\u201cThis decision was not taken lightly,\u201d the company said Monday.<\/p>\n<p>John Riccitiello stepped down as CEO in October\u00a0<strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-09\/unity-software-says-ceo-to-exit-reaffirms-quarterly-guidance\" target=\"_blank\" rel=\"noopener noreferrer\">following<\/a><\/strong>\u00a0a\u00a0<strong><a href=\"https:\/\/www.bloomberg.com\/news\/features\/2022-11-10\/unity-u-software-chases-metaverse-dream-to-lift-stock\" target=\"_blank\" rel=\"noopener noreferrer\">controversial tenure<\/a>\u00a0<\/strong>that included rebranding Unity as a metaverse company.<\/p>\n<p>He was succeeded by technology veteran James Whitehurst, who is interim CEO.<\/p>\n<p>Popular mobile games like<em>\u00a0Pokemon Go<\/em>\u00a0and\u00a0<em>Marvel Snap<\/em>\u00a0use Unity\u2019s products.<\/p>\n<p>The company implemented\u00a0<strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-18\/unity-overhauls-controversial-price-hike-after-game-developers-revolt\" target=\"_blank\" rel=\"noopener noreferrer\">price hikes<\/a><\/strong>\u00a0last year that angered many customers and later reversed those plans.<\/p>\n<p>Shares of Unity rose as much as 4.8% to $40.87 in extended trading after the filing. The stock gained 43% last year as sales rose and losses narrowed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The video game software company already cut 600 jobs last year. <\/p>\n","protected":false},"author":341034,"featured_media":508198,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[9],"tags":[12083,2422,35065,74156,89428],"class_list":["post-521043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gaming","tag-job-cuts","tag-john-riccitiello","tag-tech-jobs","tag-unity-software","tag-video-game-engines"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/521043"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=521043"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/521043\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/508198"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=521043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=521043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=521043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}