Playtika to cut workforce by about 15%

Playtika Holding

12/12/2022 14:02

Dec 12 (Reuters) - Israeli gaming firm Playtika Holding
Corp  PLTK.O  said on Monday it would cut its workforce by about
15% as part of a restructuring, as the gaming sector faces a
slowdown.
    The company, which has more than 3,700 employees, is
consolidating studios and centralizing evaluation of new game
concepts through its creative team at game studio Wooga, it
said.
    "Three current titles have been removed from the pipeline
with priority toward strategic high-growth potential new games
investments," Playtika said.    
    After posting blockbuster sales during the pandemic, the
gaming sector is grappling with slowing demand this year as
inflation pushes people to cut back on discretionary spend.
    Founded in 2010, Playtika has been known for its
casino-themed games and operates apps for poker and solitaire. 
    The company has more than 34 million monthly active users
and its popular games include "Bingo Blitz" and "Slotomania",
according to its website.
    In February, Playtika said it would explore strategic
alternatives to maximize value for its stockholders.
 urn:newsml:reuters.com:*:nL1N2V01AI
    Playtika, which went public on the Nasdaq in January last
year, has fallen nearly 50% this year, as of last close.
 (Reporting by Tiyashi Datta in Bengaluru; Editing by Anil
D'Silva)
 ((tiyashi.datta@thomsonreuters.com))