Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.
In the email that confirmed the latest headcount reduction, the CEO wrote that it was difficult for the company to reach the decision.
Israel-based digital entertainment company Playtika is the latest company to receive the hit of the global economic meltdown as it plans a 15% layoff of its entire workforce. Many companies have dismissed significant percentages of their staff to cut back expenses and push through these challenging times. The dice have rolled again, and Playtika has confirmed the layoff of 610 employees of its 4,100 people of its workforce.
The company’s CEO and founder, Robert Antokol, confirmed the staff cut by email on Monday, confirming the rumors that made rounds last week. There was news in the past week that the company would let go of 12-15% of its people. Reports also showed that around 180 employees in the Israel headquarters would be victims of the dismissal. And the total number of people that would be bidding farewell to the gaming giant could be as high as 500. Meanwhile, the company fired 250 persons in May. Those affected belonged to the London, Montreal, and Los Angeles offices. As a result, it had to cancel the games that were scheduled to develop in those offices. On the other hand, some activities that were meant to take place in the location were transferred to the HQ in Israel.
Playtika Confirms 15% Workforce Layoff
In the email that confirmed the latest headcount reduction, Antokol wrote that it was difficult for the company to reach the decision. He added:
“This decision has not come easy, yet we think it necessary to best position Playtika for the future. As we assess the current environment and look toward the future, Playtika must return to our roots of excellence through agility, efficiency, creativity and being obsessed with winning to deliver the most fun forms of mobile entertainment to our players.”
Furthermore, the top executive noted that Playtike would balance teams and redeploy talent even as it executes the workforce layoff. The company also plans to lower “non-core initiatives and consolidating studios for greater efficiency and a stronger focus on optimization.” Additionally, the gaming giant said its creative team at Wooga would centralize the evaluation of its new game concepts.
Antikol and Uri Shahak co-founded Playtika in 2010 before Caesars Entertainment Corporation acquired it in May 2011. In July 2016, a Chinese consortium purchased the company’s operation for $4.4 billion. The Chinese consortium sold its 20% stake to Joffre Capital at an $8.5 billion valuation. However, the deal has been canceled.
Coinspeaker announced in January last year that Playtika would be going public in the US.