Niantic has announced its split into two entities after selling its popular video game titles, including Pokémon Go, for $3.85 billion. The games division will be acquired by Scopely, while the remaining part of Niantic will transform into Niantic Spatial, focusing on geospatial technologies. This transition involves substantial staff layoffs, impacting 68 employees including high-ranking officials. CEO John Hanke emphasized the layoffs were strategic for the new company's operational needs and not a reflection on employee performance, demonstrating the challenging nature of corporate restructuring.
According to a WARN document from Thursday, 68 workers who worked from Niantic's Ferry Building headquarters are set to be left on the cutting room floor.
Hanke added that the layoffs "in no way" reflect workers' performances. He is slated to lead the new company, with $200 million from Niantic's coffers and a $50 million investment from Scopely.
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