Activision Blizzard Day of reckoning in the gaming sector Sluggish sales. jobs cut restructuring efforts

Activision Blizzard Day of reckoning There might be some more pain coming to the video game sector, whose top stocks suffered double-digit declines last Wednesday. A report from Bloomberg suggests Activision

Blizzard the publisher behind blockbuster franchises like Call of Duty, Hearthston, Diablo, and Warcraft plans to announce a round of jobs cuts tomorrow "that could number in the hundreds." The layoffs would be part of a restructuring effort as the company faces sluggish sales.

According to TEO Activision Blizzard Continues Corporate Restructure With New Leadership Appointments

• Call of Duty EVP Rob Kostich has been appointed president of Activision.
• Activision Blizzard CFO Dennis Durkin will also serve as president for the company’s Emerging Businesses.
• Each of Activision Blizzard’s major divisions (King, Activision, Blizzard Entertainment) have seen leadership changes in recent months.

About Activision Blizzard

Activision Blizzard, Inc., incorporated on February 17, 2000, is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. The Company's segments include Activision Publishing, Inc. (Activision), Blizzard Entertainment, Inc. (Blizzard), King Digital Entertainment (King) and Other. The Company also develops products spanning other genres, including first-person action, action/adventure, role-playing, simulation and strategy. It provides various forms of product support. The Company sells games through both retail and digital online channels.

Blizzard Entertainment, Inc.

Blizzard is engaged in developing and publishing of interactive software products and entertainment content, particularly in PC gaming. It delivers content through retail channels or digital downloads, including subscriptions, full-game sales, and in-game purchases, as well as licenses of software to third-party or related-party companies that distribute Blizzard products. It also maintains an online gaming service, which facilitates digital distribution of Blizzard content, online social connectivity across all Blizzard games, and the creation of user-generated content for Blizzard games. Its product franchises include: World of Warcraft, a subscription-based massive multi-player online role-playing game (MMORPG) for the PC; StarCraft, a real-time strategy PC franchise; Diablo, an action role-playing franchise for PC and console platforms; Hearthstone, an online collectible card franchise for the PC and mobile platforms; Heroes of the Storm, a free-to-play team brawler for the PC, and Overwatch, a team-based first person shooter for the PC and console platforms.

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