Unity Software Inc (NYSE:U), a prominent videogame software provider, announced a significant restructuring plan involving job cuts and changes in its operations.
The San Francisco-based company revealed its intent to terminate 3.8% of its global workforce, amounting to 265 jobs. This move was part of a strategic “reset” following a challenging period for the company, Reuters reported.
Unity faced turbulence recently, attempting to implement a new pricing policy in September, which led to a backlash from game developers and a subsequent decline in share prices.
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This was followed by the retirement of CEO John Riccitiello in October, with Jim Whitehurst taking over as interim CEO and Roelof Botha as board chairman.
As part of the recent announcement, Unity would end a professional services segment of an agreement with Weta FX, a visual effects company founded by Peter Jackson, resulting in layoffs for employees connected to that agreement.
In addition to job cuts, Unity planned to close offices in 14 locations, pending consultations in some countries and intends to significantly reduce its office space in other locations, including San Francisco and Bellevue, Washington.
The company would adopt a more flexible approach to remote work, no longer mandating a three-day office presence and reducing full in-office services to three days a week in most locations.
“While no additions have been finalized, it’s clear that we will reduce the number of things we are doing overall,” Whitehurst told Reuters.
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