Playtika Layoffs
May 2022
Playtika announced a layoff affecting 250 employees (6% of its workforce) in May 2022. The company operates in the Consumer sector.
250
6%
May 31, 2022
About
Israeli mobile gaming company Playtika announced layoffs of 250 employees on May 31, 2022, representing about 6% of its then 4,000-strong global workforce. The cuts are part of a restructuring to consolidate operations, leading to the closure of game development studios in Los Angeles, Montreal, and London, with some activities transferred to Israel and Poland. This move, which includes canceling new game projects, aims to streamline the company for growth and profitability amid a challenging post-pandemic market. The broader gaming industry is facing pressure as user engagement declines with the easing of lockdowns, contributing to a significant drop in Playtika's share price since its 2021 IPO. Despite remaining profitable, the company is adjusting to economic headwinds, including rising interest rates and inflation, which have prompted similar layoffs across the tech and gaming sectors.
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