Playtika Layoffs
January 2024
Playtika announced a layoff affecting 300 employees (10% of its workforce) in January 2024. The company operates in the Consumer sector.
300
10%
Jan 11, 2024
About
Israeli gaming company Playtika is laying off 300 to 400 employees, representing about 10% of its global workforce of 3,800. This new round of cuts follows a previous layoff of around 900 employees in 2022. The company, which has a market cap of approximately $2.9 billion, is implementing these reductions amid financial pressures, including a nearly 25% stock price decline since early 2023 and a recent 2.7% year-over-year revenue drop. The layoffs, announced in January 2024, are not expected to affect its Israeli offices, which employ about 1,100 people. Playtika continues to pursue acquisitions, such as the recent purchase of Israeli studio Innplay Labs for up to $300 million, even as it streamlines operations.
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