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