What Kotick was less keen to highlight was a cost-cutting plan in which Activision Blizzard is to lay off 775 of its employees, around eight percent of its overall workforce, on the back of what Kotick himself has described as 'the best [financial results] in our history'.
Destiny will be out of the equation because of Bungie's departure - which will reportedly cost Activision Blizzard $400 million in annual revenue might we add - meaning Call of Duty: Black Ops 4 to shore up earnings for its publishers; and could Blizzard finally be leaving Activision?
"Bungie gets to focus on the IP that they created and we get to focus on our biggest opportunities and our biggest franchises with our best resources", said Activision Blizzard president and chief operating officer Coddy Johnson. They're now seeking to increase development teams on key franchises like Call Of Duty, Candy Crush, Overwatch, Warcraft, Hearthstone, and Diablo by roughly 20%, in order to "accelerate the pace and quality of content for their communities" and for new product initiatives. Seeing a company drive away its staff after achieving record profits is hard to understand, but the move is even more concerning when remembering that, earlier this year, Activision Blizzard granted $15 million worth of awards to its new CFO.
It continued, "This means we need to scale down some areas of our organization". Despite this strong performance, hundreds of people across Activision, Blizzard, and mobile game company King will be impacted by the layoffs. I'm sorry to share that we will be parting ways with some of our colleagues in the USA today.More news: Militant Iran Taunts US on Revolution's 40th Birthday
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CEO Bobby Kotick said on Tuesday that the company had fallen short of its "full potential".
A number of institutional investors and hedge funds have recently made changes to their positions in ATVI. "Two people close to the company told me that there have been a few opportunities for those former Destiny staff to move to other teams, but those opportunities are limited, and members of that department are perhaps the most anxious about their job security".
Many games studios are facing pressure from free-to-play titles such as Epic Games's global hit Fortnite. However, Activision Blizzard is going through a restructuring and isn't anticipating as much success in 2019.
According to Kotaku, the letter also promised to slash employees job placement assistance, health coverage and profit-sharing bonuses as part of a wider "comprehensive severance package".