Niantic Inc., the company that created the popular “Pokemon Go” game, announced 230 layoffs Thursday, joining the list of tech companies making head-count reductions.
In an email to employees that was posted on the company’s website, CEO John Hanke said that Niantic had allowed its expenses to grow faster than revenue. “In the wake of the revenue surge we saw during Covid, we grew our headcount and related expenses in order to pursue growth more aggressively, expanding existing game teams, our [augmented-reality] platform work, new game projects and roles that support our products and our employees,” he wrote. “Post Covid, our revenue returned to pre-Covid levels and new projects in games and platform have not delivered revenues commensurate with those investments.”
