Unity Software lays off 25% of workforce
Job cuts will affect 1,800 employees
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Unity Software is laying off 25% of its staff as it tries to position itself for long-term profitability.
In total, 1,800 people across all teams will be impacted as the company "restructures and refocuses on its core business," according to a Tuesday filing with the Securities and Exchange Commission.
The company told FOX Business that the move was part of the company's "reset," which was announced in a shareholder letter in early November.
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"This decision was not taken lightly, and we extend our deepest gratitude to those affected for their dedication and contributions," the company said in a statement. "We are committed to supporting impacted employees through this challenging transition."
Reuters reported that this is the largest layoff in the company's history.
Employees work at the Unity Technologies office in San Francisco, California, on March 30, 2016. (David Paul Morris/Bloomberg via Getty Images / Getty Images)
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The gaming technology company classifies itself as the "world’s leading platform for creating and operating interactive, real-time 3D content."
According to its website, about 70% of the top 1,000 mobile games were made with Unity and more than 18 different platforms run Unity creations.
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Unity said it can't estimate the costs associated with the reduction in workforce but anticipates that the charges related to employee transition, severance payments and employee benefits will "be substantially incurred" in the first quarter of 2024.