{"id":3703,"date":"2023-05-03T12:46:34","date_gmt":"2023-05-03T16:46:34","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/unity-software-to-cut-8-of-its-staff-what-wall-street-thinks\/"},"modified":"2023-05-03T12:46:35","modified_gmt":"2023-05-03T16:46:35","slug":"unity-software-to-cut-8-of-its-staff-what-wall-street-thinks","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=3703","title":{"rendered":"Unity Software to Cut 8% of Its Staff. What Wall Street Thinks."},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n<\/figure><\/div>\n

\n Unity Software
\n said Wednesday that it plans to cut 8% of its workforce, and some analysts don\u2019t see that as a good sign.<\/p>\n

The videogame software developer said it would reduce about 600 employee roles in a filing with the Securities and Exchange Commission on Wednesday.
\n Unity
\n (ticker: U) currently employs about 7,700 people.<\/p>\n

\n

Unity said the purpose of the reduction is to \u201cposition itself for long-term and profitable growth,\u201d according to the filing. The company said it expects to incur about $26 million in charges in the second quarter related to severance payments and benefits.<\/p>\n

Oppenheimer analyst Martin Yang wrote Wednesday that the layoffs imply weaker-than-expected sales growth for the second half of the year and reflect management\u2019s focus on improving profitability in 2023.<\/p>\n

\u201cBased on the weak macroeconomic backdrop and still challenging mobile ads market, we believe U management will maintain its focus on profit in 2023,\u201d Yang said. \u201cThe latest cost actions imply a weaker-than-expected revenue growth outlook for 2H23 and management\u2019s commitment to the prior profit target.\u201d He rates the stock at Perform.<\/p>\n

William Blair analyst Dylan Becker wrote in a Wednesday note that the company will still have 7,000 employees after the layoffs, which is more than the 5,000 it had in 2022. Becker, who rates the stock Outperform, is \u201cstill well positioned to capitalize on the opportunity ahead.\u201d<\/p>\n

Unity is one of many tech companies that has enacted layoffs this year. Tech giants
\n Alphabet
\n (GOOGL),
\n Amazon.com
\n (AMZN), and
\n Meta Platforms
\n (META) have all announced job cuts in 2023 to rein in costs. <\/p>\n

\n IBM
\n (IBM),
\n DocuSign
\n (DOCU),
\n Autodesk
\n (ADSK),
\n Workday
\n (WDAY), and
\n Okta
\n (OKTA) also recently reduced their headcounts. <\/p>\n

Shares of Unity were down 1.9% Wednesday to $24.84. The stock has fallen 13% this year. The company is scheduled to report first-quarter earnings on May 10.<\/p>\n

Write to Angela Palumbo at angela.palumbo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Unity Software said Wednesday that it plans to cut 8% of its workforce, and some analysts don\u2019t see that as a good sign. The videogame software developer said it would reduce about 600 employee roles in a filing with the Securities and Exchange Commission on Wednesday. Unity (ticker: U) currently employs about 7,700 people. Unity […]<\/p>\n","protected":false},"author":1,"featured_media":3704,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-3703","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nUnity Software to Cut 8% of Its Staff. What Wall Street Thinks. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Unity Software said Wednesday that it plans to cut 8% of its workforce, and some analysts don\u2019t see that as a good sign. The videogame software developer\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=3703\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Unity Software to Cut 8% of Its Staff. What Wall Street Thinks. | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Unity Software said Wednesday that it plans to cut 8% of its workforce, and some analysts don\u2019t see that as a good sign. The videogame software developer\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=3703\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-03T16:46:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-03T16:46:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/1683132394_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=3703#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=3703\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Unity Software to Cut 8% of Its Staff. What Wall Street Thinks.\",\"datePublished\":\"2023-05-03T16:46:34+00:00\",\"dateModified\":\"2023-05-03T16:46:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=3703\"},\"wordCount\":316,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=3703#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=3703\",\"url\":\"https:\/\/ifintechworld.com\/?p=3703\",\"name\":\"Unity Software to Cut 8% of Its Staff. What Wall Street Thinks. | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-05-03T16:46:34+00:00\",\"dateModified\":\"2023-05-03T16:46:35+00:00\",\"description\":\"Unity Software said Wednesday that it plans to cut 8% of its workforce, and some analysts don\u2019t see that as a good sign. The videogame software developer\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=3703#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=3703\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=3703#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Unity Software to Cut 8% of Its Staff. What Wall Street Thinks.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Unity Software to Cut 8% of Its Staff. What Wall Street Thinks. | iFintechWorld","description":"Unity Software said Wednesday that it plans to cut 8% of its workforce, and some analysts don\u2019t see that as a good sign. The videogame software developer","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=3703","og_locale":"en_US","og_type":"article","og_title":"Unity Software to Cut 8% of Its Staff. What Wall Street Thinks. | iFintechWorld","og_description":"Unity Software said Wednesday that it plans to cut 8% of its workforce, and some analysts don\u2019t see that as a good sign. The videogame software developer","og_url":"https:\/\/ifintechworld.com\/?p=3703","og_site_name":"iFintechWorld","article_published_time":"2023-05-03T16:46:34+00:00","article_modified_time":"2023-05-03T16:46:35+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/1683132394_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=3703#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=3703"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Unity Software to Cut 8% of Its Staff. What Wall Street Thinks.","datePublished":"2023-05-03T16:46:34+00:00","dateModified":"2023-05-03T16:46:35+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=3703"},"wordCount":316,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=3703#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=3703","url":"https:\/\/ifintechworld.com\/?p=3703","name":"Unity Software to Cut 8% of Its Staff. What Wall Street Thinks. | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-05-03T16:46:34+00:00","dateModified":"2023-05-03T16:46:35+00:00","description":"Unity Software said Wednesday that it plans to cut 8% of its workforce, and some analysts don\u2019t see that as a good sign. The videogame software developer","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=3703#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=3703"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=3703#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Unity Software to Cut 8% of Its Staff. What Wall Street Thinks."}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/3703","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3703"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/3703\/revisions"}],"predecessor-version":[{"id":3705,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/3703\/revisions\/3705"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/3704"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}