Unity Software Inc. will reportedly cut about 600 jobs in its third and largest round of layoffs over the past year.
The Wall Street Journal reported late Tuesday that San Francisco-based Unity will trim about 8% of its workforce amid renewed recession fears, and plans to close roughly 20 of its 58 offices around the world over the next few years.The Wall Street Journal reported late Tuesday that San Francisco-based Unity will trim about 8% of its workforce amid renewed recession fears, and plans to close roughly 20 of its 58 offices around the world over the next few years.
Unity U did not immediately respond to a MarketWatch request for confirmation or comment. The company previously laid off about 500 workers combined in two rounds of cuts, in January and last June. In February, Unity shares plunged nearly 20% in a single day after warning in its quarterly earnings report that the mobile in-game ad market was unlikely to recover in 2023 due to the weaker economy.
Unity stock is down 11.5% year to date, and has fallen 63% over the past 12 months, compared to the S&P 500’s SPX 7.3% gain in 2023 and 1.3% decline over the past year.
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