Metaverse platform VRChat lays off 30 percent of its workforce
VRChat is not growing as fast as it was during the pandemic. For this and other reasons, the platform is laying off many employees.
VRChat announced the layoffs on Wednesday. The company writes on Platform X:
"Today, we faced one of the toughest decisions in our company's history: reducing the size of our team by 30%, which means bidding farewell to many exceptionally talented and dedicated team members.
- VRChat (@VRChat) June 12, 2024
Although difficult, this decision is a proactive step towards securing the future success of our business, community, and mission. We believe it positions us strongly for the years ahead, allowing us to navigate challenges effectively and continue delivering on our mission."
In a lengthy email posted on the VRChat forum, CEO Graham Gaylor explains the reasons behind the decision.
The company had hired too many people during the pandemic, which became apparent in 2022 when the growth of VRChat and VR in general slowed. Other reasons include poor management and a difficult environment for raising capital.
Despite its name, VRChat does not require a VR headset and can be played on a PC monitor. Supported VR platforms are SteamVR and Meta Quest.
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