According to Neowin , Unity has just announced that it will partially terminate its agreement with Weta Digital, resulting in the layoff of 265 employees. Reuters reports that the cuts will affect positions related to professional services contracts with Weta FX, the visual effects company co-founded by Peter Jackson, director of The Lord of the Rings franchise.
265 employees lost their jobs as Unity wanted 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 remainder. Under the agreement, Weta FX retained the rights to use the graphics tools.
However, Unity has now decided to terminate the agreement. In a statement, the company said it needed to focus on its core gaming business and that Weta FX's direct support for the use of these tools would make more sense. On the other hand, Weta FX said it wanted to fully rehire the affected Weta Digital team as soon as possible.
In addition to layoffs, Unity also plans to close offices at 14 locations around the world . Looking ahead, Unity says it will be more flexible regarding remote work. The company will no longer require employees to come to the office three days a week.
The changes occurred as Unity's new leadership team attempted to refocus on the business. In October, Jim Whitehurst became interim CEO following John Riccitiello's retirement. Roelof Botha of Sequoia Capital also assumed the chairmanship of the board. The company stated that he would "continue to advise Unity to ensure a smooth transition."
Unity previously faced turmoil when its new pricing policy for game developers backfired. The current changes aim to reorient Unity's strategy after that misstep, which shook investor confidence.
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