SAN FRANCISCO - Unity (NYSE:U) Software, known for its widely-used platform for real-time 3D content creation, has announced a significant reduction of its workforce, aiming to cut 25%, or roughly 1,800 employees, in a bid to improve its financial performance.
The company, whose software has been integral in the development of popular games such as Pokemon Go and Marvel Snap (NYSE:SNAP), has been focusing on streamlining its operations to bolster efficiency. This strategic move includes the reduction of its workforce and office space, a process that began in May of the previous year.
Investors responded positively to the news, as evidenced by the rise in Unity's stock price by 3.18%. The market's reaction reflects confidence in Unity's restructuring efforts to potentially lead to a leaner, more financially robust organization.
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