Unity Announce MASSIVE Layoffs - 25% of Company!
Gamefromscratch
6 min, 8 sec
The video discusses a series of layoffs at Unity Technologies, culminating in a 25% reduction of their workforce.
Summary
- Unity faced multiple rounds of layoffs since going public on June 30th, 2022, with a 4% cut initially.
- Layoffs continued in 2023, with 8% of employees let go in May, and an additional 3.8% later in the year.
- The latest round involves cutting 25% of the staff, amounting to 1,800 employees.
- The layoffs follow a tumultuous period, including the controversial runtime fee and a change in CEO.
- Unity's stock saw a near 5% increase in after-hours trading following the layoff announcement.
Chapter 1
![The video starts with the narrator introducing the recent bad news about Unity, indicating major layoffs and a troubled history since their IPO.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6Nzg3NjIsInB1ciI6ImJsb2JfaWQifX0=--2f9957a3e70d3a7fae63c4bb2d8e59eb1dbad517/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4581_9.jpg)
The video starts with the narrator introducing the recent bad news about Unity, indicating major layoffs and a troubled history since their IPO.
- Unity has been experiencing layoffs and troubles since their IPO on June 30th, 2022.
- Originally, 4% of the workforce was laid off, amounting to approximately 200 employees.
![The video starts with the narrator introducing the recent bad news about Unity, indicating major layoffs and a troubled history since their IPO.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6Nzg3NjIsInB1ciI6ImJsb2JfaWQifX0=--2f9957a3e70d3a7fae63c4bb2d8e59eb1dbad517/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4581_9.jpg)
Chapter 2
Chapter 3
![Management changes at Unity, including the ousting of CEO John Riccitiello, and subsequent layoffs.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6Nzg3NjYsInB1ciI6ImJsb2JfaWQifX0=--6003aa177d56db57e2d818e6560c6c125d908aa4/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4581_59.jpg)
Management changes at Unity, including the ousting of CEO John Riccitiello, and subsequent layoffs.
- Unity's CEO John Riccitiello was replaced following various controversies including the runtime fee.
- The new CEO initiated a company reset, which led to more layoffs, with 3.8% of the workforce cut.
![Management changes at Unity, including the ousting of CEO John Riccitiello, and subsequent layoffs.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6Nzg3NjYsInB1ciI6ImJsb2JfaWQifX0=--6003aa177d56db57e2d818e6560c6c125d908aa4/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4581_59.jpg)
Chapter 4
![Unity announces its largest ever layoff, cutting 25% of its staff, and the stock market's reaction.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6Nzg3NjgsInB1ciI6ImJsb2JfaWQifX0=--a6bf7a93a1a25a8eab4c6a13fd000205fc7f7afd/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4581_101.jpg)
Unity announces its largest ever layoff, cutting 25% of its staff, and the stock market's reaction.
- Unity is laying off 25% of its workforce, totaling 1,800 employees, as reported by Reuters.
- The announcement led to an increase in Unity's stock price by nearly 5% in after-hours trading.
![Unity announces its largest ever layoff, cutting 25% of its staff, and the stock market's reaction.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6Nzg3NjgsInB1ciI6ImJsb2JfaWQifX0=--a6bf7a93a1a25a8eab4c6a13fd000205fc7f7afd/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4581_101.jpg)
Chapter 5
![The video highlights Unity's significance in the gaming industry and its broad usage across different sectors.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6Nzg3NzAsInB1ciI6ImJsb2JfaWQifX0=--52e3d862a831749bfaad2276245852e854df7389/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4581_139.jpg)
The video highlights Unity's significance in the gaming industry and its broad usage across different sectors.
- Unity is crucial for over 1.1 million game creators, including for popular games like Pokémon Go and Beat Saber.
- The company's software toolkit simplifies game development and publishing across various platforms.
![The video highlights Unity's significance in the gaming industry and its broad usage across different sectors.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6Nzg3NzAsInB1ciI6ImJsb2JfaWQifX0=--52e3d862a831749bfaad2276245852e854df7389/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4581_139.jpg)
Chapter 6
![The video discusses the ongoing restructuring at Unity, including further layoffs and a focus on core businesses.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6Nzg3NzIsInB1ciI6ImJsb2JfaWQifX0=--452920e1ae13cb06328603847c040d9f941b7509/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4581_174.jpg)
The video discusses the ongoing restructuring at Unity, including further layoffs and a focus on core businesses.
- Unity's restructuring includes layoffs affecting all teams, regions, and areas of business.
- Interim CEO Jim Whitehurst has not provided specifics on structural changes but confirmed additional changes are coming.
![The video discusses the ongoing restructuring at Unity, including further layoffs and a focus on core businesses.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6Nzg3NzIsInB1ciI6ImJsb2JfaWQifX0=--452920e1ae13cb06328603847c040d9f941b7509/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4581_174.jpg)
Chapter 7
![The video discusses Unity's past market performance, the implications of their IPO, and hopes for the company's focus on core industries.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6Nzg3NzQsInB1ciI6ImJsb2JfaWQifX0=--47bfb511ea4f1f7d52d2648b242946221e49b1f8/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4581_231.jpg)
The video discusses Unity's past market performance, the implications of their IPO, and hopes for the company's focus on core industries.
- Unity's stock peaked at $200 in November 2021 but fell below $30 the following year.
- Shares have risen nearly 40% since the company reset was announced by the interim CEO.
![The video discusses Unity's past market performance, the implications of their IPO, and hopes for the company's focus on core industries.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6Nzg3NzQsInB1ciI6ImJsb2JfaWQifX0=--47bfb511ea4f1f7d52d2648b242946221e49b1f8/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4581_231.jpg)
Chapter 8
![The narrator concludes the video with thoughts on the layoffs' impact on the community and Unity's need for restructuring.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6Nzg3NzYsInB1ciI6ImJsb2JfaWQifX0=--5554d8536e5d9a5dc4819d84c0a648ac60165c9d/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4581_315.jpg)
The narrator concludes the video with thoughts on the layoffs' impact on the community and Unity's need for restructuring.
- The narrator expresses sympathy for those affected by the layoffs at Unity.
- There is a discussion on whether the layoffs are necessary for Unity's focus on core businesses or if they are desperate cuts.
![The narrator concludes the video with thoughts on the layoffs' impact on the community and Unity's need for restructuring.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6Nzg3NzYsInB1ciI6ImJsb2JfaWQifX0=--5554d8536e5d9a5dc4819d84c0a648ac60165c9d/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/4581_315.jpg)
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