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Ultraleap halves workforce in restructuring; to reportedly offload hand-tracking division
Extended Reality
Jun 27, 2024
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Extended Reality

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Jun 27, 2024

Ultraleap halves workforce in restructuring; to reportedly offload hand-tracking division

Management news

  • UK-based haptics manufacturer Ultraleap is laying off around 50% of its workforce as part of a restructuring plan amid shifting priorities at major tech firms like Meta and Snap.

  • The company reportedly plans to seek a buyer for its hand-tracking business, which includes the Leap Motion technology it acquired in 2019. Meanwhile, its "haptics" division, which uses ultrasound waves to control technology, will be spun out into a new company owned by Ultraleap's existing shareholders and seek additional external funding.

  • While Ultraleap did not disclose the exact number of employees affected, the company stated that it was necessary to adapt its business strategy and better serve its market and customers, despite the difficulties associated with reducing its workforce.

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