Activision Blizzard announces layoffs as it looks to move away from live events | Gaming News

Activision Blizzard announces layoffs as it looks to move away from live events

It also affects employees at Activision-owned mobile firm King, which is known for games like Candy Crush.

By: HT TECH
| Updated on: Aug 21 2022, 15:47 IST
. Last month, the gaming company reported $2.25 billion in operating cash flow for the year ended December 31, 2020 REUTERS/ Mike Blake
. Last month, the gaming company reported $2.25 billion in operating cash flow for the year ended December 31, 2020 REUTERS/ Mike Blake (REUTERS)

Activision Blizzard has laid off dozens of people, including 50 employees involved with its live events and esports divisions, reports Bloomberg.

According to the report, Activision's move will impact less than 2% of the total workforce or less than 190 employees. It also affects employees at Activision-owned mobile firm King, which is known for games like Candy Crush. The report further said that the layoffs were part of the company's efforts to restructure its offerings, especially live events, which had been hit hard by the Covid-19 pandemic.

You may be interested in

MobilesTablets Laptops
7% OFF
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
23% OFF
Samsung Galaxy S23 Ultra 5G
  • Green
  • 12 GB RAM
  • 256 GB Storage
Google Pixel 8 Pro
  • Obsidian
  • 12 GB RAM
  • 128 GB Storage
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage

“Players are increasingly choosing to connect with our games digitally and the e-sports team, much like traditional sports, entertainment, and broadcasting industries, has had to adapt its business due to the impact the pandemic has had on live events,” an Activision Blizzard spokesperson said in a statement.

Also read
Looking for a smartphone? To check mobile finder click here.

Employees will receive three months' severance and health benefits for the next 12 months. The company is also giving a $200 gift card to the company's Battle.net PC platform. Activision has also promised “job transition support” to the employees.

ALSO READ: Nintendo targets a record year in Switch, game sales

According to The Verge, Activision Blizzard runs two major esports leagues for its game franchises, such as Overwatch and Call of Duty. The company had big plans to expand the esports leagues before the Covid-19 pandemic forced a transition to online gaming.

Even as Activision's e-sports programmes may have taken a hit, its core business has remained unaffected by the pandemic. Last month, the gaming company reported $2.25 billion in operating cash flow for the year ended December 31, 2020, as compared with $1.83 billion for 2019. In the fourth quarter, its operating cash flow stood at $1.14 billion as compared with $918 million for the fourth quarter of 2019.

ALSO READ: Gamers in India spend 8.5 hours a week playing: Report

“In a year filled with adversity our extraordinary employees were determined to provide connection and joy to our 400 million players around the world,” Bobby Kotick, CEO of Activision Blizzard had said. “They accomplished this as well as generating record financial results for our shareholders. Under difficult circumstances, but with the same conviction and focus, they will continue to do so in 2021.”

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 17 Mar, 08:34 IST
Tags:
NEXT ARTICLE BEGINS