Adelaide, May 13: Might Kingdom, one of the largest game developers in Australia, has announced that it will lay off employees due to strategic rightsizing. The Australian video game developer said it had been facing its "toughest chapter". Mighty Kingdom layoffs will affect 28% of the workforce as the company begins restructuring some roles.

Before the announcement of the layoffs, Mighty Kingdom CEO David Yin took a moment to reflect on the company's journey. He shared that since 2010, the company had been crafting games with heart, reaching over 50 million players worldwide. He said that the success had been a testament to the creativity and dedication of our diverse team. Motional Layoffs: Self-Driving Technology Company Lays Off 40% of Its Workforce in US, Postpones Robotaxi Plans Amid Restructuring.

Mighty Kindgom Layoffs Official Announcement on X: 

Further, the CEO said that Mighty Kingdom layoffs were initiated as the company advised its people about "strategic rightsizing" to streamline operations and "prioritise core business". He said that rightsizing and focusing on the core business would align with the company's vision for the future. The CEO of the Australian video game developer highlighted that the Mighty Kingdom layoffs will result in a 28% workforce reduction and restructuring of roles.

Mighty Kindgom's layoff decision was made with a heavy heart, said CEO David Yin. He said the company did not want to resort to such a decision; however, it "exhausted all the possible avenues to avert the changes.". The CEO thanked the professionals who made the company successful by working all these years. Despite the layoffs at Mighty Kingdom,  David Yin said that the company would remain steadfast and continue its mission to create and offer a delightful gaming experience. Mighty Kingdom confirmed it would support current titles and promised exciting new game developments. Tech Layoffs 2024: Experts Suggest That Widespread Layoffs May Have Cascading Effect on Economy Leading to Slower Recovery Following Post-Pandemic Downturn, Says Report.

The Mighty Kingdom layoffs news arrived at a very challenging time. The global market, especially the tech, electric vehicles, fintech, health tech, and other industries, has been going through a worldwide economic downturn, slowed demand, and other challenges. In 2024, EA layoffs cut 5% of jobs, Take-Two Interactive layoffs resulted in a 5% reduction in the workforce, and Unity layoffs let 25%, or 1,800 people, leave. 

(The above story first appeared on LatestLY on May 13, 2024 10:15 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).