Niantic announced the closure of its LA studio and 230 layoffs. This decision shuttered NBA All-World and Marvel: World of Heroes.
"Pokémon Go" survives layoffs and project cancellations.
In an email to staff, CEO John Hanke cited financial difficulties since the outbreak.
He said expenses exceeded revenue. Niantic published the email.
“Post-Covid, our revenue returned to pre-Covid levels and new projects in games.
And platform have not delivered revenues commensurate with those investments.
Hanke wrote in his email. “This change will align expenses and revenue whil“Post-Covid, our revenue returned to pre-Covid levels and new projects in.
Games e preserving our core assets and long-term upside.” Hanke blamed the current issue on scaling mobile game launches and a slower AR market than Niantic projected.