Unity Software Stock Skids Lower After Layoffs

Unity Software Inc (NYSE:U) announced in a regulatory filing it will eliminate 1,800 jobs, or 25% of its employees, in its largest round of layoffs ever. The move is part of a "company reset" interim CEO Jim Whitehurst warned was coming back in November. At last glance, U was down 5.3% at $36.90, brushing off a price-target hike from Wedbush to$50 from $31.Analysts are still hesitant toward U, with 11 of the 18 in question carrying a tepid "hold" or worse rating, while the 12-month consensus target price o ...