Social VR platform Rec Room announced it’s laying off around half of its staff, citing low-level content which has flooded the platform from users on mobile and console. Founded in 2016, the studio ...

Rec Room, the social gaming platform once riding high on a $3.5 billion valuation (now that’s a price tag), is now laying off “roughly half” its team. That’s not a pivot—that’s a full-blown reset.

Seattle-based startup Rec Room, once valued at $3.5 billion, is laying off about half of its staff in a sweeping restructuring. Co-founders Cameron Brown and Nick Fajt announced the layoffs Monday in ...