KEY TAKEAWAYSShares of videogame development platform maker Unity Software tumbled after saying it plans to lay off 25% of its workforce.The cuts are part of a corporate restructuring plan and mark the company's fourth round of layoffs since July 2022.Unity Software is also severing ties with Weta FX's professional services.Shares of videogame development platform provider Unity Software (U) tumbled 8% Tuesday after saying it plans to lay off about 1,800 employees or 25% of its workforce.The cuts are part o ...

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.  JOB CUTS SURGED 15% IN MARCH, AND LARGE-SCALE LAYOFFS 'WILL LIK ...

The Unity engine powers many PC/console games and the vast majority of mobile games available on the market today. (Unity image)A fresh round of layoffs at gaming giant Unity Technologies has impacted its office in Bellevue, Wash., resulting in the dismissal of 50 employees in Washington state, according to a new filing.Unity said Monday that it plans to eliminate 25% of its workforce, or approximately 1,800 jobs worldwide. Reuters reports that the dismissals will affect “all teams, regions, and areas of th ...

Unity Software Inc (NYSE:U) announced in a regulatory filing it will eliminate 1,800 jobs, or 25% of its employees, in its largest round of layoffs ever. The move is part of a "company reset" interim CEO Jim Whitehurst warned was coming back in November. At last glance, U was down 5.3% at $36.90, brushing off a price-target hike from Wedbush to $50 from $31.Analysts are still hesitant toward U, with 11 of the 18 in question carrying a tepid "hold" or worse rating, while the 12-month consensus target price o ...

Unity (NYSE:U) layoffs are a hot topic on Tuesday as the video game software company prepares to reduce its total headcount by 25%!These layoffs will see roughly 1,800 Unity employees lose their jobs as the company seeks to focus more on its core business. The video game software company also says that these changes will set it on the path to “long-term and profitable growth.”Unity notes that it expects to suffer charges connected to these layoffs but doesn’t have any exact number ready for investors. It al ...

Unity Software Inc (NYSE: U) is up 5.0% in extended hours on Monday after announcing plans of lowering its global headcount.How many employees will be laid off?Copy link to sectionThe gaming technology company will lay off about 25% of its workforce or some 1,800 employees worldwide as part of a corporate restructuring plan. Unity Software had recently disclosed plans of a “comprehensive assessment” that it told investors would likely include “discontinuing certain product offerings and reducing workforce”. ...

About this content About Andrew Kessel Andrew is a financial journalist with experience covering public companies in a wide breadth of industries, including tech, medicine, cryptocurrency, mining and retail. In addition to Proactive, he has been published in a Financial Times-owned newsletter covering broker-dealer firms and in the Columbia Misourian newspaper as the lead reporter focused on higher education. He got his start with an internship at Rolling Stone magazine.  Read more About the publisher Pr ...

Unity Software said Monday that it's cutting 1,800 jobs, or about 25% of its workforce, in the latest round of layoffs at the gaming technology company. The stock jumped almost 4% in extended trading. Unity said in a regulatory filing that the cuts are part of a corporate restructuring plan. The company told investors in November that it would implement a "comprehensive assessment" of its product portfolio and conduct a financial evaluation  that would "likely include discontinuing certain product offerings ...

Virtual-reality design firm Unity Software Inc. U, +3.18% on Monday said it planned to lay off around 1,800 employees, or 25% of its staff, amid efforts to focus on its core business. The company, whose software is used by the film and videogame industries, said it expected the dismissals to take place largely in the first quarter, but said it couldn’t yet estimate the costs for things like severance and employee benefits. Monday’s announcement comes after the company in November said it planned to close o ...

The most recent trading session ended with Unity Software Inc. (U) standing at $37.05, reflecting a +0.32% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.34%. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq lost 0.56%.The the stock of company has risen by 17.24% in the past month, leading the Computer and Technology sector's gain of 1.27% and the S&P 500's gain of 2.56%.The investment community will be paying close attention to ...