Market intelligence firm Sensor Towerh as laid off 40 members of staff, including several prominent members of staff such as the CMO, and CFO and former CEO Alex Malafeev will be moving to focus on Sensor Tower's AI advancements in an advisory role.

Techcrunch also reports that the company’s finance department has been heavily impacted, and almost the entirety of the marketing department has been cut.

The information was conveyed to staff at an all-hands meeting, and changes may still be underway as part of a larger reorganisation of the company’s corporate structure. No specifics were released, however Sensor Tower confirmed it will issue a full release this week.

“Earlier this week, Sensor Tower’s management team took necessary steps to reorganise and right-size our business under a talented and experienced senior leadership team,” Sensor Tower publicist Melissa Sheer told TechCrunch. “We are excited about these changes as we position the company for a balance of continued growth and best-in-class profitability. We will provide more details in the coming days.”

Sensor Tower has grown significantly over the past few years, thanks in part to a $45 million investment from Riverwood Capital in 2020. At the time, the company was had just 75 employees, and 350 large-scale customers such as mobile giants Zynga and Tencent. The acquisition of fellow market intelligence firm Pathmatics in 2021 led to further growth, allowing Sensor Tower to expand its digital and mobile insight capabilities and grow its clientbase.

Trouble in the market?

This marks the latest in a series of layoffs that have hit the tech sector over the past few months, including some of the largest companies in the space. More specifically, companies within the mobile gaming industry of all sizes have cut staff, including the likes of Kabam, Unity, and Electronic Arts.

Despite mobile remaining the world’s most profitable gaming platform, it’s worth noting that 2022 saw the industry as a whole face significant struggles as the market normalised following the unprecedented “Covid boom”, resulting in declines throughout the sector. While some companies managed to continue to profit, it appears that the industry is continuing to adapt, and doing whatever it takes to weather the storm in the hopes of calmer waters ahead.

Last week, Sensor Tower analysed the performance of the puzzle genre.