Hundreds of layoffs reportedly coming to Activision-Blizzard
Hard times are reportedly inbound for Activision-Blizzard.
According to Bloomberg’s Christopher Palmeri, the publisher behind Call of Duty, Overwatch, and Diablo is set for mass layoffs this Tuesday. While no exact number is given, the report states that pink slips “could number in the hundreds.” How this will impact the company, and where these layoffs will primarily hit, is unknown.
The news comes after a tumultuous stretch for the company, one defined by declining player bases in key games, lagging sales, and regular turnover in the boardroom. In a November conference call the company acknowledged waning interest in titles such as Overwatch and Hearthstone, which was followed by underwhelming revenues from the release of Destiny 2: Forsaken.
In January, Activision-Blizzard sustained another hit when Bungie, the developer behind the Destiny series, announced that it was splitting from the publisher. This resulted in Activision-Blizzard losing the Destiny franchise and with it, hundreds of millions of dollars in potential future revenue.
The roll of bad news has seen Activision-Blizzard stock prices cut in half over the last six months. Since peaking at $84.68 in October, shares have dropped as low as $42.53, with prices hovering around that mark today.
Blizzard was already shaping up for a rough 2019. Despite the looming release of Warcraft 3: Reforged, the company was actively looking to cut costs according to a Kotaku report. This was coupled by an increasingly meddlesome approach from Activision that may be attributed to the company’s rough 2018.
Despite these layoffs, the company is still positioned for a busy 2019 that includes the releases of Diablo Immortal, Sekiro: Shadows Die Twice, World of Warcraft: Classic, and more.
Blizzard closing down French office despite strong profits
Activision Blizzard talking with OWL, CDL teams about financial relief
Multiple Activision Blizzard esports staffers set to leave company
Artifact designers laid off by Valve as game loses players
Valve officially closes video storefront on Steam platform
Ninja feeding the homeless becomes social media drama
LCS broadcaster Jatt retires, moves to development team
NRG, Luminosity among esports orgs diving into Apex Legends
Millions attend virtual Marshmello concert in Fortnite
Dr DisRespect, Shroud, others feature in Twitch Rivals Apex Legends
Riot's API Challenge brings innovation and Yasuo bans
G2 resist Vitality's bot lane pressure to remain unbeaten
NYXL announces partnership with T-Mobile
Big changes coming to Overwatch Contenders
A former MLB executive is the new Gen.G CEO
Denial Esports co-owner in hot water for homophobic comments
Apex Legends hits over 10 million players in three days
Cloud9, Fnatic, NRG set for opening matches at Katowice major
Disney to air Overwatch League on ABC, cable stations