Videogame software provider Unity Software will eliminate 265 jobs or 3.8% of its global workforce and end an agreement with a digital video effects company founded by the "Lord of the Rings" director as part of a "reset," the company said on Tuesday.

Unity Software to cut 3.8% of staff in ‘company reset’::Videogame software provider Unity Software will eliminate 265 jobs or 3.8% of its global workforce and end an agreement with a digital video effects company founded by the “Lord of the Rings” director as part of a “reset,” the company said on Tuesday.

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    11 months ago

    This is the best summary I could come up with:

    SAN FRANCISCO, Nov 28 (Reuters) - Videogame software provider Unity Software (U.N) will eliminate 265 jobs or 3.8% of its global workforce and end an agreement with a digital video effects company founded by the “Lord of the Rings” director as part of a “reset,” the company said on Tuesday.

    The move follows a tumultuous period for the San Francisco-based company, which makes a software toolkit used by many videogame developers including the maker of the popular “Pokemon Go” mobile game.

    Following a developer revolt and a steep dropoff in share price, the company revamped the new fees.

    In October, Unity CEO John Riccitiello retired, and the company appointed former IBM president Jim Whitehurst as interim CEO and president and Sequoia Capital partner Roelof Botha as board chairman.

    Tuesday’s announcement includes termination of the professional services piece of an agreement Unity struck with movie director Peter Jackson’s visual effects company Weta FX in 2021 after Unity purchased the technology and engineering division of Weta FX.

    As a result, 265 employees whose jobs are related to the agreement will be laid off, the company said.

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