Activision Blizzard Inc. (ATVI) plans to announce job cuts Tuesday in the face of slowing sales, Bloomberg reported, citing people familiar with the matter, reported TheStreet’s Joseph Woelfel.
The company is also expected to release earnings Tuesday.
The layoffs, which could number in the hundreds, are part of a restructuring aimed at centralizing functions and boosting profit, one of the people told Bloomberg. Activision employed 9,800 people at the end of 2017.
Here’s what Jim Cramer thinks about the layoffs, the earnings report, and what big game companies can do to get back on track.
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