Posted by Megalith 10:15 AM (CST)
Saturday February 09, 2019
With plummeting stocks driven by waning interest in key titles such as Overwatch and Destiny 2, Activision Blizzard is already drowning in bad news, but things are about to get a whole lot worse for the gaming giant: Bloomberg has learned hundreds of employees will lose their jobs on Tuesday as part of a restructuring attempt aimed at centralizing functions and boosting profit. Many of these layoffs will reportedly be in non-game-development departments, such as publishing, marketing, and sales. "Analysts expect Activision’s sales to decline by about 2 percent this year, to $7.28 billion."
In January, developer Bungie announced that it was parting ways with Activision and ending its development contract early, putting the bow on a long-doomed relationship. Bungie would hang onto the Destiny franchise as a result. The business angle is that Activision is now missing one of its biggest tentpoles, but the human angle is that the split leaves people in danger of losing their jobs. Activision employed an entire team full of Destiny support staff -- PR, marketing, social media, business, and so on -- who now have no work.