According to a new Bloomberg report, Activision Blizzard is planning to announce a massive round of layoffs on Tuesday that will result in hundreds of jobs lost.
According to Bloomberg, the layoffs are part of a restructuring to centralise functions and boost profit - following their November conference call previous year where they stated how major titles, like Overwatch and Hearthstone, were seeing declining numbers.More news: Mountain Sounds Festival: Police Deny Pressuring Organisers To Cancel
The cuts will follow a tumultuous stretch for Activision, which reported stable Overwatch monthly active users in its Q3 2018 earnings report but a decline in Hearthstone, and also expressed disappointment in the performance of Destiny 2: Forsaken. Aimed at centralising its overall functions, as well as to boost its profits.
Shares at the company have dropped by 2.5% to $42.88 on Friday, with analysts expecting the company's sales to drop by an estimated 2% this year to £7.28 billion. The layoffs are also expected to target non-development positions, which are basically roles in publishing, marketing, and sales to name a few.More news: United Kingdom and Switzerland strike post-Brexit continuity agreement
It's not been long since Bungie split from their long-term Destiny partners Activision Blizzard, and now the publisher is facing even more woes - apparently hundreds of staff are at risk of being laid off. In order to publish its franchise independently.
It goes without saying that this isn't the first time Blizzard Activision has let go of people. CEO of Activision Erich Hirshberg and Mike Morhaime, the boss of Blizzard, both left, while in the beginning of the year, Activision revealed it was firing its CFO Spencer Neumann.More news: Man Utd Boss Reserve Special Praise For Pogba
Despite this, Activision Blizzard still stands as one of the largest developer and publisher in the video game industry.