- Unity Software said Monday that it would lay off about 1,800 employees, or 25% of its overall workforce, as part of a corporate restructuring plan.
- The company said it is unable to “reasonably estimate the costs and charges in connection with this reduction, which it expects will be substantially incurred in the first quarter of 2024.”
- In October, John Riccitiello retired as Unity’s CEO, while former Red Hat CEO James Whitehurst became interim CEO.
The tech bubble is bursting. The CEOs in tech really thought that COVID lockdown era growth would continue infinitely, and seemed to bet their house on it. And now the workers must suffer the consequences, of the actions taken by these executives. It’s all a bunch of nonsense and extremely unfair.
This actually could have been much worse. I heard they are trialing a system where they lay off one employee every time unity is installed, but luckily there have only been 1800 installs since September.
It’s great to see the majority of workers paying for the mistakes of that big pricing fuckup that was approved by a minority of people in power. Just a normal day for capitalism, nothing to see here.
How do you expect a business to run? Every major business decision go to a vote? Or should a company that is bleeding cash not lay off anyone until the company shuts down and everyone is out of a job?
Others have already stated the second option as preferred, I’m going to offer up some more context. The obvious contemporary example of this sort of structure is a co-op. There is usually some general manager or CEO-like position that handles day-to-day operations, and major business decisions are decided by a member vote. If that is a little too on the nose, it is not uncommon to have a shareholder vote for major business changes in a more traditional, publically traded, company.
Or should a company that is bleeding cash not lay off anyone until the company shuts down and everyone is out of a job?
Y. E. S.
This isnt as absurd as you think, its not the goddamn employees fault the execs suck ass. If there are performance issues from an employee that is different, but in general these moves are wholely driven by failure at the exec level.
So because the execs suck ass, everyone should lose their jobs instead of a fraction of the employees. Genius move.
The second one. It’s funny that people think this is an absurd suggestion, too.
Actually there’s a hidden option C!
The execs take a fucking pay cut for fucking up their company instead of subsidizing their wealth on the suffering of those who earned them that wealth.
I know I’m a little liberal on this one but anything over like 200k salaried should mean “I’ve done an amazing job helping the company grow”
Doesn’t matter, Unity is a dead man walking.
