Immutable has laid off one-third of its staff over the past nine months, with some positions now supported by AI

According to a report by Jinse Finance, the Australian blockchain gaming company Immutable, supported by Temasek, has laid off one-third of its workforce over the past nine months, reducing its staff from 224 in 2023 to around 150. The company confirmed that some positions in the business, engineering, product, and marketing teams have been supported by AI, particularly in design and content creation. Despite a $50 million loss in 2023 due to increased employee costs and a decline in crypto assets, the report states that revenue is expected to grow by 55% in 2024, reaching $67 million. The company anticipates achieving cash flow breakeven by the end of 2025.