Unity to layoff 265 employees in "company reset"
Unity has announced the closure of Weta Digital as it ends its agreement with movie director Peter Jackson's Weta FX, resulting in the layoff of 265 employees.
The details:
As reported by Reuters, the layoffs are the result of the company's decision to "reset" and refocus on game development, which resulted in the termination of a $1.625 billion agreement with Jackson.
In December 2021, Unity acquired a portion of Weta Digital, handing over the company's "tools, pipeline, technology, and engineering talent," while Jackson rebranded the remainder of the company Weta FX. Despite the end of the partnership, Unity will keep the technology acquired as part of the deal, which will also be available to Weta FX.
Weta FX has acknowledged the decision and stated that it will extend offers to as many affected individuals as possible to "expand its research, development, and support functions" and "continue its evolution as a leader in visual effects."
Unity has also confirmed that it will close 14 of its offices, including those in Singapore and Berlin while reducing its footprint in San Francisco and Bellevue. Those based in the US offices will also no longer be required to work three days a week from the physical location.
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