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Activision Blizzard will announce Tuesday hundreds of job cuts as the stock continues to fall following the announcement that Bungie would terminate his contract with the publisher, reports Bloomberg.
The company's shares fell 2.5% to $ 42.88 on Friday, while badysts expect the company's sales to fall by about 2% this year to $ 7.28 billion. Layoffs will be part of the restructuring process to centralize functions and increase profits.
Activision is known for working on a new Call of Duty title, "Crash Bandicoot N. Sane Trilogy" and "Crash Team Racing: Nitro-Fueled". Blizzard continues to support many of its biggest titles, including "Overwatch", "Hearthstone" and the "World of Warcraft", "StarCraft" and "Diablo" franchises. King actively supports "Legend of Solgard" and "Candy Crush Friends Saga". Activision Blizzard also acts as an editor for "Sekiro: Shadows Die Twice", developed by FromSoftware. including "Overwatch" and "Call of Duty".
However, at a conference call in November, the company revealed that titles such as "Overwatch" and "Hearthstone" were showing flat or declining figures. And the company has enjoyed great success after being separated from Bungie as a result of the disappointing sales of "Destiny 2: Forsaken". Bungie would retain the rights of its "Destiny" franchise, a news that was reflected at the time by a 7% drop in post-trade transactions.
Last month, the company experienced a reshuffle of executives that resulted in the departure of two executives and the company appointed new directors for Activision, Blizzard and King.
In 2017, Activision employed 9,800 people.
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