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Immutable has laid off one third of its workforce in the past 9 months, opting to use AI to complete some of the work.
BlockBeats News, on May 23, Temasek-backed Australian blockchain gaming company Immutable has laid off a third of its workforce in the past nine months, reducing its headcount to around 150 from 224 in 2023. The company confirmed that some of the positions in the commercial, engineering, product, and marketing teams are already supported by AI, especially in design and content creation. Although the company lost $50 million in 2023 due to increased employee costs and a decline in crypto assets, it reported a 55% increase in revenue to $67 million in 2024. The company expects to break even with cash flow by the end of 2025.