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Unity Software to lay off 1,800 employees, or 25% of staff - TL;DR CNBC

Unity Software to lay off 1,800 employees, or 25% of staff

Publishing timestamp: 2024-01-09 07:48:47


Summary

Unity Software is laying off about 1800 employees, or 25% of its workforce, as part of a corporate restructuring plan. The company is unable to estimate the costs and charges associated with the reduction, which are expected to be incurred in the first quarter of 2024. The stock initially jumped almost 5% in extended trading. This comes after a rough year for Unity, which previously announced layoffs and faced backlash from developers over pricing changes.


Sentiment: NEGATIVE

Tickers: U

Keywords: breaking news: technologyinternetmobiletechnologybusiness newsunity software incsocial medialayoffs

Source: https://www.cnbc.com/2024/01/08/unity-software-to-lay-off-1800-employees-as-part-of-a-corporate-restructuring.html


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