Pokémon Go Developer Niantic Lays Off Hundreds, Shuts Down Studio and Cancels Upcoming Games

Niantic is laying off hundreds of employees and closing its Los Angeles studio.
The company is canceling its upcoming NBA All-World and Marvel: World of Heroes games.
Niantic grew too quickly during the pandemic but revenue has returned to pre-pandemic levels.
Niantic's new game Peridot has struggled, earning only $1.4 million in revenue and facing criticism.
Pokémon Go remains Niantic's most successful game but players are unhappy with in-app purchases.