![]() Like Unity, a handful of companies, including Meta and Amazon, have announced multiple rounds of cuts. Unity’s latest layoffs come amid broader workforce reductions across much of the tech industry. The company is expected to release its Q1 earnings next week. Per CNBC, Unity’s stock is down 11 percent since the start of the year. Despite that performance, investors don’t appear to be impressed with the company. It was also Unity’s first profitable quarter as a publicly traded company. Unity Software announced plans to cut about 600 jobs, or 8 of its workforce, according to a company filing Tuesday with the Securities and Exchange Commission. ![]() In February, the engine maker reported a Q4 revenue of $451 million, representing a 43 percent increase from the same period in 2021. The layoffs come despite Unity recently posting its best fiscal quarter and year in company history. “It was clear we had too many layers.” Riccitiello also said Unity would move to a hybrid work model starting in June, with employees expected to work from the office at least three days a week. “It’s all about setting ourselves up for higher growth,” he told the outlet, adding the layoffs would affect some in middle management. A spokesperson instead pointed Engadget to a filing the company made with the US Securities and Exchange Commission, as well as a recent interview CEO John Riccitiello did with The Wall Street Journal. Unity also plans to reduce the number of offices it operates globally. Unity Technologies (also known as Unity Software) is a company that develops a platform for creating and operating interactive and real-time 3D (RT3D) content. Prior to the first round of workforce reductions, the company employed more than 8,000 staff. The company previously laid off about 225 staffers last June, and another 284 employees at the start of the year. (NYSE: U), the world’s leading platform for creating and operating interactive, real-time 3D (RT3D) content, today announced second quarter 2021 revenue of 273.6 million, which is up 48 from the year prior and ahead of guidance. (doing business as Unity Technologies) is a video game software development company based in San Francisco.It was founded in Denmark in 2004 as Over the Edge Entertainment (OTEE) and changed its name in 2007. On Tuesday, the company shared it would let go of approximately 600 employees or about eight percent of its global workforce. Q2 Revenue up 48, exceeding expectations Raises guidance again Unity Software Inc. For the third time in less than a year, Unity is laying off a part of its workforce.
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