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Unity Software to lay off 1,800 employees, or 25% of staff (www.cnbc.com)

submitted 10 months ago by [email protected] to c/[email protected]

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Unity Software said Monday that it would lay off about 1,800 employees, or 25% of its overall workforce, as part of a corporate restructuring plan.
The company said it is unable to “reasonably estimate the costs and charges in connection with this reduction, which it expects will be substantially incurred in the first quarter of 2024.”
In October, John Riccitiello retired as Unity’s CEO, while former Red Hat CEO James Whitehurst became interim CEO.

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[–] [email protected] 6 points 10 months ago

The tech bubble is bursting. The CEOs in tech really thought that COVID lockdown era growth would continue infinitely, and seemed to bet their house on it. And now the workers must suffer the consequences, of the actions taken by these executives. It's all a bunch of nonsense and extremely unfair.