Activision to cut 8% of staff after delivering weak forecast

  • TECH Premium
  • Wednesday, 13 Feb 2019

FILE - This June 13, 2013 file photo shows the Activision Blizzard Booth during the Electronic Entertainment Expo in Los Angeles. Video game maker Activision Blizzard is laying off nearly 800 workers as the company braces for a steep downturn in revenue following the best year in its history. The cutbacks announced Tuesday, Feb. 12, 2019, illustrate the boom-and-bust cycles in an industry whose fortunes are tied to video games that can have a relatively short lives before players move on to the next craze. (AP Photo/Jae C. Hong, File)

Activision Blizzard Inc plans to eliminate 8% of its workers as part of a company-wide restructuring, an effort to get the maker of Call Of Duty back on track after a disappointing sales forecast. 

The layoffs would affect hundreds of workers at the company, which expects to record a roughly US$150mil (RM610.41mil) expense in connection with the belt tightening. Bloomberg reported last week that the videogame maker was preparing to make the cuts. 

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Tech News

Asia’s virtual banks need regulator oversight to guard data, BIS says Premium
Apple teases metaverse AR plans, stock jumps Premium
Shanghai’s citizen data platform recognised as smart city model Premium
Smart objects: can magnetic waves serve as battery alternatives? Premium
Argentine fintech 'unicorn' Uala launches in Colombia amid Latam push Premium
Saudi launches group to develop eSports Premium
SoftBank COO Marcelo Claure to step down after dispute over compensation -source Premium
Crypto giant Binance hopes Russia will help regional growth Premium
New EV owners resist gasoline cars, survey shows Premium
Facebook wins conditional EU antitrust nod for Kustomer deal Premium

Others Also Read