There’s a report circulating that was published by Bloomberg on February 8th, 2019 indicating that Activision will supposedly lay off hundreds of employees.
In the article it was noted that the layoffs will be hitting the company within a matter of weeks, potentially as soon as Tuesday, February 12th. In the article it was reported…
“The layoffs, which could number in the hundreds, are part of a restructuring aimed at centralizing functions and boosting profit, said one of the people, who asked not to be identified because the changes haven’t been announced.”
The purpose of the layoffs? To restructure. Why? Because Activision is in the can.
The company’s stock has been tanking in recent months, and took an absolute nosedive after Bungie announced that they would be keeping Destiny 2 and parting ways from Activision, which made the shareholders absolutely furious that they weren’t informed about beforehand about Activision and Bungie coming to the terms of the dissolution.
Shareholders responded by suing Activision in a class-action suit.
This also came after Activision and Blizzard lost their chief financial officers last fall. Previous to that CEO of Activision Publishing, Eric Hirshberg, bailed out of the company, along with president of Blizzard, Mike Morhaime.
Bloomberg also noted that Tim Kilpin, the head of Activision’s consumer products division, also took leave this February.
Essentially, as the old saying goes, the rats are fleeing the ship.
It’s likely that the lawsuit will give the shareholders a nice big, fat payout and then Activision may either downsize or close out non-profitable divisions. Don’t be surprised if Overwatch and its e-sports division end up on the chopping block given that the company scuttled the brand’s worth by focusing on courting the Social Justice crowd instead of building a game that was fun to play and was actually worth the price of entry.
At this point most core gamers are probably thinking good grief and good riddance.
(Thanks for the news tip zac za)