© Shutterstock “A difficult but necessary decision”: Playtica’s CEO informed his employees about the wave of layoffs
| Sonia Gorodisky, Israel Hayom |
The layoffs at the Israeli gaming giant are becoming a reality: the founder and CEO of Playtica Holding (NASDAQ:), Robert Antokol, sent a letter to the company’s employees in Israel and around the world on Monday afternoon in which he officially announces the decision to cut 15% of all company employees.
More than 600 employees will be laid off, with 180 of them working in Israel. This is one of the biggest cuts in the history of Israeli high-tech. In addition, the CEO stated that the company will close three of its game titles. This is Playtica’s second wave of layoffs, after last May it fired about 250 employees, mostly abroad.
“I share with you today the difficult news,”
Antokol wrote to his employees.
“After intensive discussions, we have decided to cut our workforce by 15 percent, and we are about to say goodbye to wonderful and talented colleagues and friends. The decision was not easy, but we believe it is necessary to stabilize Playtica while best preparing for the future. As we evaluate of the current environment and looking towards the future, Playtica must return to its familiar roots of excellence, with agility, efficiency, creativity and the pursuit of victories, to deliver the most enjoyable forms of entertainment to our players around the world. We will achieve this goal by redeploying, balancing the teams, Closing initiatives that are not part of the core of the activity and unifying studios for the sake of efficiency and focusing on optimization.”
he explained.
Employs more than 4,100 employees worldwide. Similar to other large technology companies, the year 2022 did not brighten the company’s face, this after the company recorded accelerated growth during the Corona period. Since the beginning of the year Playtica’s stock has fallen by 52%, and it is not impossible that the streamlining process can improve the performance of the company and the stock.
Read the full article on the Israel Today website