Activision Blizzard Reportedly Planning Massive Layoffs

Report Big layoffs expected at Activision Blizzard By Keshav Bhat

Report Big layoffs expected at Activision Blizzard By Keshav Bhat

Sources told Bloomberg that Activision Blizzard wants to centralize functions and boost profits, and that part of the plan will include layoffs that could cost hundreds of employees their jobs.

According to Bloomberg, the layoffs are part of a restructuring to centralise functions and boost profit - following their November conference call past year where they stated how major titles, like Overwatch and Hearthstone, were seeing declining numbers.

As you may know, the company didn't have the greatest 2018. Destiny 2's Forsaken expansion failed to meet Activision's sales expectations, and company stock took a significant hit after the ill-received announcement of the mobile-only Diablo: Immortal at Blizzcon in November.

Analysts predict that the aforementioned move will lead to a $400 million reduction in revenue for Activision Blizzard.

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As Bloomberg notes, the company has seen quite a shake-up at the top over the past year as well, which certainly doesn't help.

In context: In what's been a turbulent year for the publishing giant, seeing stagnating growth in key titles such as Overwatch and Hearthstone, as well as losing the Destiny IP, Activision is reportedly planning a restructuring effort aimed at increasing profitability.

Unfortunately for Activision, this trends seems to be carrying over into the new year, with Tim Kilpin, head of Activision's consumer-products division, announcing his retirement this month. The share value of the company has plummeted from around $80 last October to less than $43 on Friday, partly due to flat sales from game such as Overwatch and the loss of the Destiny franchise.

One of the biggest companies in gaming, Activision is thought to employ anywhere from 9,000 to 10,000 employees.

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