Tech

Jam City lays off hundreds of employees as part of ‘restructuring’ process


Interested in learning what’s next for the games industry? Join gaming executives to discuss emerging parts of the industry this October at GamesBeat Summit Next. Sign up today.


Jam City laid off several hundred members of staff today. According to the company, about 17% of the workforce has been laid off. Given the number of employees it has, this is somewhere between 150 and 200 employees.

Jam City is the mobile developer behind titles like Harry Potter: Hogwarts Mystery, Disney Emoji Blitz, and most recently the blockchain game Champions Ascension. Last year it The plan is cancelled to the public through a $1.5 billion SPAC.

A Jam City spokesperson said in a statement, “Amid the challenging global economy and its impact on the gaming industry, Jam City has made the difficult decision to downsize. Our team size is about 17%. We’ve made a number of strategic acquisitions in recent years, and this move represents the right size of our workforce to address the redundancy associated with those transactions.

“While Jam City is still profitable, we believe that in the current operating environment, this is a necessary move to improve financial flexibility and increase operational efficiency, better positioning Jam City to long-term development. This also follows a broader refactoring we recently completed to reorganize our development teams into genre divisions that focus on subject matter expertise for optimization. efficiency. We thank those who are leaving us for their contributions and are providing severance and severance packages to help with the transition. “

This happened less than a year after Jam City raised $350 million in providing financing and acquiring Montreal-based studio Ludia. Jam City also has studios in Los Angeles, San Francisco, San Diego, Las Vegas, Cedar Falls and Toronto, as well as others in Bogota and Buenos Aires. It’s unclear if any studios have been affected by the layoffs more than others.

GameBeat’s creed when covering the gaming industry as “where passion meets business.” What does that mean? We want to let you know how important the news is to you – not just as a decision maker at the game studio, but as a game fan. Whether you read our articles, listen to our podcasts or watch our videos, GamesBeat will help you learn about the industry and enjoy its involvement. Learn more about membership.



Source link

kignews

Kig News: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button