Mobile gaming company Niantic has announced that it will cut between 85 and 90 jobs, Bloomberg reported.
Niantic has struggled to find another large-scale success after 2016’s Pokemon Go and has already had to cancel four projects.
These cuts and cancellations have been caused by the company facing a period of ‘economic turmoil’, stated John Hanke, Niantic’s Chief Executive Officer.
Hanke went on to say that for the company to continue to function, it needs to reduce costs in a variety of areas and ‘further streamline our operations in order to best position the company to weather any economic storms that may lie ahead’.
The four cancelled projects included Heavy Metal (a Transformers game), Hamlet (a collaboration project between Niantic and theatrical company Punchdrunk) and two other projects called Blue Sky and Snowball.
Niantic hasn’t been able to replicate its massive success with Pokemon Go as its Harry Potter: Wizards Unite game, which was launched in 2019, failed to gather much support and, as a result, was shut down earlier this year.