Tilting Point has laid off over sixty members of staff representing 14 percent of its global workforce, reports Mobilegamer.biz.These layoffs come as the company restructures and adopts a new strategy.
“At Tilting Point, a great strength has been our adaptability to changing market conditions and focusing on new opportunities. The video game industry has been undergoing significant upheaval and rapid evolution, which has created real hardship, but also incredible opportunity for those with the right business model,” the company said in a statement to Mobilegamer.biz.
“We are now restructuring and adapting to new market realities with an exciting vision for the future of Tilting Point, which will translate into new hires made to support our new and growing needs.”
“Unfortunately, this shift also required eliminating roles that no longer have a function in our new strategy. These difficult decisions were not taken lightly; our colleagues who are leaving us are talented and passionate, and have contributed immeasurably to the success of Tilting Point. We thank them for their hard work and dedication.”
Where are the layoffs occurring?
So far, it appears that members of Wicked Realms, the team behind Star Trek Timelines, have been let go, as well as those in the company’s web3 division. This latter could suggest that the company is eschewing the rise of web3 technology and doubling down on more traditional pursuits, or else outsourcing web3 development to a third party.
Notably, the company has previously been bullish on the potential of web3 gaming, and announced a partnership with India-based web3 platform IndiGG in November. As such, while the company may have significantly downsized its own web3 capabilities, it seems unlikely that it would abandon its plans in the space completely.
We listed Tilting Point as one of the top 50 mobile game makers of 2022.