Activision Blizzard warns employees that layoffs are taking place following weak financial performance (update)
Updated February 12, 2022: Today, Activision Blizzard informed its thousands of employees that layoffs will be taking place across the board. It's unclear what the extent will exist, but every bit many every bit 800 employees may exist let go. The executives said that in that location aren't enough projects in the works to warrant this much staff. Despite supposedly having the best financial results in the visitor'southward history, people volition be let go. Financial analysts expected Activision Blizzard to earn roughly $3 billion in acquirement, but information technology roughshod almost a billion short. Nonetheless, Activision Blizzard promised to double-down on its about pop franchises and expand those teams in 2022. It's unclear why and so many people will be let go when an expansion is allegedly happening soon.
Activision hasn't had the best fourth dimension recently. A few months ago, the company announced that Destiny 2: Forsaken failed to see sales expectations and a few weeks later, Bungie and Activision split, with the erstwhile retaining rights to the pop franchise. That's not all though, according to a written report past Bloomberg, Blizzard — also a part of Activision — revealed that games such as Overwatch and Hearthstone were seeing flat or declining numbers of users. While the overall company is quite healthy, information technology'south severely underperforming due to the extensive competition from other developers.
Unfortunately, the bad news doesn't end in that location. Analysts wait the Bungie-Activision divide to reduce almanac revenue by as much as $400 one thousand thousand. Activision Blizzard may miss its sales targets by as much as a billion dollars. Bloomberg added that Activision Blizzard plans to "announce job cuts in the confront of slowing sales, according to people familiar with the matter." Given how tumultuous the gaming manufacture can be, this is devastating news to the hundreds of employees who volition exist laid off. It's unclear what the exact count will exist at this moment, but we wish those afflicted the best of luck in the future. The layoffs may even go up to a one thousand.
Games like Overwatch are facing increasing competition from the numerous new shooters on the market. While Apex Legends isn't a directly competitor considering 1 is a battle royale experience and the other isn't. Both share many similarities similar a cast of characters with unique abilities. This can take players away from an sometime game.
The only major release Activision has coming up is Sekiro: Shadows Die Twice. While the title looks stellar, it'southward not as popular equally the Phone call of Duty series. Many analysts believe that Activision Blizzard needs more new, quality releases if information technology wants to compete with other publishers. Because that the corporation employs roughly 10,000 people, allow's hope the future plans work.
- Encounter Sekiro: Shadows Die Twice at Amazon
- See Sekiro: Shadows Die Twice at Microsoft Store
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Source: https://www.windowscentral.com/report-activision-blizzard-plans-cut-hundreds-jobs-due-declining-sales
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