TinyBuild latest company to make layoffs
pcgamesinsider.bizIndie publisher TinyBuild has made layoffs.
In a trading update, CEO Alex Nichiporchik said that the decision to "part ways" with colleagues was "physically painful". The company hasn't said how many people have been made redundant.
As almost always, the reason for the layoffs is the economy and broader business. The firm is failing to hit its financial targets for Q4.
"2023 has been an incredibly challenging year," Nichiporchik wrote.
"The whole team at tinyBuild worked tirelessly to release our best products, despite the impact of the war in Ukraine that deeply affected most of us. We couldn't overcome weak demand for video games and the sudden reversal of market dynamics that had favoured us over the previous years. We innovated in marketing, refocused our catalogue, and adjusted the cost base as quickly as possible, and, despite these actions, it wasn't enough in such a rapidly evolving market.
"It's physically painful to part ways with colleagues after all the good work they put into the company. The only reason to justify this decision is that the company has entered a pivotal stage and I am committed to do everything I can to ensure we get through this tough period. We owe it to all our stakeholders now to bounce back and deliver on what tinyBuild can achieve."
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