nDreams announces restructuring with "significant" staff reduction, two studios closed
VR developer nDreams has announced a significant restructuring, including the closure of its Brighton-based Near Light studio and the Compass team, resulting in 78 jobs being at risk. The company's CEO, Tom Gillo, cited challenging market conditions for the painful decision, aiming to focus on the Elevation studio and XR R&D. This news follows similar reductions in VR investment from companies like Meta.
- Entities
- Company: Compass
- Company: Elevation
- Company: nDreams
- Topic: Layoffs
- Company: Meta
- Company: Aonic
- Person: Tom Gillo
- Person: Patrick O'Luanaigh
- Topic: Virtual Reality
- Company: Near Light
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