- Israeli tech company Playtika Holding Corp (NASDAQ:PLTK) reportedly plans to downsize 15% of its staff.
- The redundancies will impact 615 people from its total workforce of 4,100 across the company’s global footprint in Europe, Israel, and the U.S., TechCrunch reports.
- An internal memo noted that three titles, including ‘MergeStories,’ ‘DiceLife,’ and ‘Ghost Detective’ will sunset to rationalize costs.
- Playtika will offer alternative roles to a proportion of employees impacted by the cuts.
- CEO Robert Antokol told TechCrunch, “We believe the structure announced today further leverages our core strengths of delivering superior in-game experiences and scaling mobile games to global franchises in continuation of growth. Saying goodbye to talented colleagues and friends is difficult.”
- The report noted Playtika was one of the waves of businesses with its popular online gambling and gaming titles that went public last year, riding on the back of a massive surge in usage among pandemic consumers.
- However, the lack of stability in the gaming business, coupled with general depression in tech stocks, wreaked havoc on the company.
- Shareholder, Joffre Capital, pulled out of a deal to take a majority stake in the company after governance disputes.
- Playtika had already eliminated 250 workers in May.
- The report further added that, among other gaming companies, Electronic Arts Inc (NASDAQ:EA) reportedly sought a buyer; Unity Software Inc (NYSE:U) laid off around 200 people, and some believe this is just the start.
- Price Action: PLTK shares closed higher by 2.99% at $8.61 on Friday.
Smaller U-haul Store In Edmond To Close After Larger Center Opens Nearby; To Let Go Of Eight Team Members
The U-Haul® store at 610 S. Broadway in Edmond will end its lease and close its doors on Feb. 4 after 12 years of serving the local community.
The facility has been open since 2011. Eight Team
