Activision-Blizzard reportedly planning hundreds of job-cuts

Report: Activision Blizzard to lay off hundreds of staff – TheSixthAxis

Rumblings of layoffs within Blizzard were previously reported late a year ago (via Kotaku), where it was claimed the company was trying to find "creative ways" to cut costs and avoid any negative press attention. Currently, staffing levels on some teams are out of proportion with our current release slate. I'm sorry to share that we will be parting ways with some of our colleagues in the USA today.

Although the company reported that 2018 was their "best in history", Blizzard Activision still feel that they could have produced more in the year. In our regional offices, we anticipate similar evaluations, subject to local requirements. The titles are as follows: "Activision Blizzard (ATVI) Q3 Earnings: What's in the Cards?" Instead, Blizzard will be making more games under the WarCraft and Diablo franchises. Activision Blizzard (NASDAQ:ATVI)'s ATR-14 is at 1.92, while its weekly volatility is at 3.30% and monthly volatility is at 3.25%.

The publisher of some of the most well-known game titles in the industry, including Call of Duty and World of Warcraft, has seen its stock price almost halved since reaching its 52-week high in October. Infinity Ward is likely the team assigned to the task this year, and it's known for producing incredible games. Activision Blizzard reported record revenue and earnings for the year.

In the past few months, Activision Blizzard has undergone significant change.

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In a statement to VentureBeat, however, Activision chief operating officer Coddy Johnson insists that it isn't a retreat. Meanwhile, Blizzard feels like a company that is stagnating. Blizzard founder Mike Morhaime announced his departure a year ago.

Right now, Epic Games' "Fortnite" is a hot fad that has been siphoning attention - and potential sales - from the titles made by other companies.

However, the company's profit beat estimates by a cent and the game publisher announced a new share buyback program of up to $1.5 billion, while saying it would cut about 800 jobs to focus on developing its games franchises, sending its shares up 3 percent in after-market trading. The share value of the company has plummeted from around $80 last October to less than $43 on Friday, partly due to flat sales from game such as Overwatch and the loss of the Destiny franchise.

These include Activision Publishing CEO Eric Hirshberg and Blizzard chief Mike Morhaime, who left in 2018, and Activision chief financial officer Spencer Neumann, who was sacked on New Year's Eve and is now CFO at Netflix. The layoffs affect all of Activision's organizations, including Activision, Blizzard, King, and High Moon.

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