https://www.gameinformer.com/2019/0...blizzard-will-result-in-hundreds-of-lost-jobs
Bloomberg is reporting an upcoming plan from Activision Blizzard to lay off hundreds of workers as the company attempts to restructure and centralize its operations.
Sources tell us the layoffs will will come from different parts of the company, including Blizzard, though it's not clear what parts of the studio will be affected. At the end of 2017, Activision employed 9800 people across all sections of the corporation.
*edit/update
https://www.wsj.com/articles/global-stocks-rise-with-u-s-china-trade-talks-in-focus-11549875306
Communication stocks were the biggest drag on the broad index, with the sector falling 0.6%. Videogame company Activision Blizzard fell 6.8%, while Take-Two Interactive Software shed 3.7%, extending their losses so far this month into the double digits on a percentage basis.
Missed earnings and weak outlooks for the year, partly due to the rise of mobile game “Fortnite,” contributed to rebuke from investors, analysts said.
Industrial stocks, meanwhile, were among the best-performing stocks in the broad index Monday. Aluminum-parts manufacturer Arconic and railroad company Norfolk Southern both rose more than 3%, triggering more modest gains throughout the S&P 500’s industrial sector
https://www.nasdaq.com/symbol/atvi
**update 2
https://kotaku.com/activision-blizzard-begins-massive-layoffs-1832571288
Publisher Activision Blizzard has begun its long-rumored layoff process, informing employees this afternoon that it will be cutting staff. On an earnings call this afternoon, the company said that it would be eliminating 8% of its staff. In 2018, Activision Blizzard had roughly 9,600 employees, which would mean nearly 800 people are now out of work.
This afternoon, the mega-publisher began notifying those who are being laid off across its various organizations, which include Activision, Blizzard, and King.
On the earnings call, Activision Blizzard CEO Bobby Kotick told investors that the company had “once again achieved record results in 2018" but that the company would be consolidating and restructuring because of missed expectations for 2018 and lowered expectations for 2019. The company said it would be cutting mainly non-game-development departments and bolstering its development staff for franchises like Call of Duty and Diablo.
Bloomberg is reporting an upcoming plan from Activision Blizzard to lay off hundreds of workers as the company attempts to restructure and centralize its operations.
Sources tell us the layoffs will will come from different parts of the company, including Blizzard, though it's not clear what parts of the studio will be affected. At the end of 2017, Activision employed 9800 people across all sections of the corporation.
*edit/update
https://www.wsj.com/articles/global-stocks-rise-with-u-s-china-trade-talks-in-focus-11549875306
Communication stocks were the biggest drag on the broad index, with the sector falling 0.6%. Videogame company Activision Blizzard fell 6.8%, while Take-Two Interactive Software shed 3.7%, extending their losses so far this month into the double digits on a percentage basis.
Missed earnings and weak outlooks for the year, partly due to the rise of mobile game “Fortnite,” contributed to rebuke from investors, analysts said.
Industrial stocks, meanwhile, were among the best-performing stocks in the broad index Monday. Aluminum-parts manufacturer Arconic and railroad company Norfolk Southern both rose more than 3%, triggering more modest gains throughout the S&P 500’s industrial sector
https://www.nasdaq.com/symbol/atvi
**update 2
https://kotaku.com/activision-blizzard-begins-massive-layoffs-1832571288
Publisher Activision Blizzard has begun its long-rumored layoff process, informing employees this afternoon that it will be cutting staff. On an earnings call this afternoon, the company said that it would be eliminating 8% of its staff. In 2018, Activision Blizzard had roughly 9,600 employees, which would mean nearly 800 people are now out of work.
This afternoon, the mega-publisher began notifying those who are being laid off across its various organizations, which include Activision, Blizzard, and King.
On the earnings call, Activision Blizzard CEO Bobby Kotick told investors that the company had “once again achieved record results in 2018" but that the company would be consolidating and restructuring because of missed expectations for 2018 and lowered expectations for 2019. The company said it would be cutting mainly non-game-development departments and bolstering its development staff for franchises like Call of Duty and Diablo.
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