Atmta cut 73% of its workforce from 167 to 45 in its latest layoffs, citing financial difficulties and macro headwinds.
ATMTA Inc announces downsizing to keep the company afloat
ATMTA Inc., developer of the sci-fi game metaverse Star Atlas, laid off more than 120 staff as part of a major restructuring amid the ongoing cryptocurrency downturn. The number of employees fell from 167 to 45, a significant drop from a peak of 235 in late 2022.
“While the team will be much smaller, we will be more agile and will be able to deliver higher priority products and maintain all other existing products, resulting in a more focused approach and a much lower burn rate, which could allow us to more easily attract capital investment and ramp up production of more product lines,” said Star Atlas CEO. Co-founder and co-founder Michael Wagner writes.
According to an official statement, the reorganized team will focus on the SAGE browser game and the Crew mobile app, which have potential for near-term traction. The CORE graphic novel will continue to be released and ready for the launch of the Decentralized Autonomous Corporation (DAC) platform for Guilds and Clans.
Meanwhile, development of the Unreal Engine 5 universe has been put on the back burner as the team focuses on other product lines. According to Star Atlas, the Unreal Engine 5 product will be developed in parallel with his newly announced multiplayer testing with MetaGravity. However, new Showroom features will be in development over a long period of time. This will make Star Atlas more attractive to potential investors, while allowing it to operate more efficiently and provide a sustainable runway for multiple product launches.
Admittedly, the announcement is pretty surprising considering that the well-known game project has just announced a partnership with MetaGravity to support over 30,000 concurrent players in a single game environment bottom. Still, Wagner insists that the company’s vision hasn’t changed, and that the team will continue to develop products until Star Atlas becomes a reality.
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