Unity to make further layoffs despite revenue increase
Engine giant Unity is making yet more layoffs in spite of the fact the company appears to be in sound financial shape.
For the quarter ending September 30th, the firm reported $544 million in revenue, a 69 per cent increase year-on-year. Unity's net losses also declined, halving from $250 million to $125 million this quarter.
Despite all this, in a letter to shareholders, the company's interim CEO James Whithurst said that the company would be making further layoffs in the wake of a "comprehensive assessment" of its product line-up.
The chief exec said that the firm is doing this: "to focus on those products that are most valuable to our customers. We are also evaluating the right cost structure that aligns with the more focused portfolio. We are acting quickly and expect to make final decisions over the next few weeks. We expect to start implementing the plan within this quarter and expect to complete all interventions before the end of the first quarter of 2024. This will likely include discontinuing certain product offerings, reducing our workforce, and reducing our office footprint."
There's no word as to how many layoffs the company will be making. Unity has laid off over 1,100 people in the last year.
The firm's business transition will be completed within two or three years.
"Once decisions are made, which should be this quarter, we will start implementing this quarter," CFO Luis Visoso said.
"We'll be 100 per cent done next quarter, and that's it. It's not like a business model transition that takes a year or two years or three years to complete."
Read more on pcgamesinsider.biz
