Unity lays off 265 employees to 'reset the company'

According to Neowin , Unity has just announced that it will partially terminate its agreement with Weta Digital, resulting in 265 employees being laid off. Reuters reports that the cuts will affect positions related to professional services contracts with Weta FX, the visual effects company co-founded by The Lord of the Rings franchise director Peter Jackson.

265 employees lose their jobs because Unity wants to 'reset the company'

Animation and VFX company Weta Digital was partially acquired by Unity in 2021 for $1.625 billion, while Peter Jackson's Weta FX retained the remaining stake. Under the deal, Weta FX retained access to its graphics tools.

However, Unity has now decided to end the deal. In a statement, the company said it needed to focus on its core gaming business and it made more sense for Weta FX to directly support the use of these tools. Weta FX, on the other hand, said it wanted to fully rehire the affected Weta Digital teams as soon as possible.

In addition to the layoffs, Unity also plans to close offices in 14 locations around the world . Going forward, Unity said it will be more flexible with remote work. The company will no longer require employees to come into the office three days a week.

The changes come as Unity's new leadership tries to refocus on the business. In October, Jim Whitehurst became interim CEO after John Riccitiello retired. Sequoia Capital's Roelof Botha also took over as chairman of the board. The firm said he will "continue to advise Unity to ensure a smooth transition."

Unity previously faced turmoil when a new pricing policy for game developers backfired. The current changes are intended to reset Unity's strategy after that mistake, which shook investor confidence.

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