Immutable Reduces Workforce by One-Third Amid Financial Challenges

According to BlockBeats, Australian blockchain gaming company Immutable, backed by Temasek, has reduced its workforce by one-third over the past nine months. The number of employees has decreased from 224 in 2023 to approximately 150. The company confirmed that some roles in its business, engineering, product, and marketing teams are now supported by AI, particularly in design and content creation. Despite incurring a $50 million loss in 2023 due to rising employee costs and declining crypto assets, Immutable reported a 55% revenue increase in 2024, reaching $67 million. The company anticipates achieving cash flow breakeven by the end of 2025.