Pokemon Go maker Niantic has laid off 230 employees today, a move that comes after handing pink slips to around 90 employees last year. During its layoffs last year, Niantic had called off four projects, one among which was a Transformers game. This time too, some of the games by the company are headed towards the same fate.
Niantic has decided to take down NBA All-World from the
App Store and will also be canceling a game based on the Marvel franchise that it was producing. The company’s CEO John Hanke wrote an email to employees talking about the layoffs, “In the wake of the revenue surge we saw during
Covid, we grew our headcount and related expenses in order to pursue growth more aggressively.” The same email was also posted on Niantic’s blog.
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We should mention that over hiring during the pandemic is probably the most common reason being used by tech companies that have been conducting layoffs off late. Almost all of them have stated the same reason and said that they now aim to make their teams of the right size. Niantic’s CEO specifically added that the
revenue of the company has returned to the level it was at during pre-pandemic times and the new projects have not added as much to the revenue as was estimated.
One of the new projects that hasn’t made very good revenue for Niantic is Peridot, a mobile
game. The game was the company’s first attempt at the original IP since Ingress and it was launched earlier this year. However, Peridot has only made $1.4 million in gross in-app purchase revenue from May till now according to Sensor Power, a market intelligence firm.
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It is also reported that gamers were disappointed with Peridot after its launch because several features of the game had to be paid for. For instance, the only way to hatch a new Peridot is to buy an in-game item for $5. But that’s not all. Once the peridot hatches, players have to pay additionally for different kinds of fur patterns. Not many players are happy to do this, and we understand why.
Pokemon Go is the game that has made the most revenue for Niantic, clocking to over $1 billion in in-app purchases each year starting 2020. But the company should do something about its in-app purchase system as a lot of players do not seem very happy with it.
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