Activision Blizzard to lay off hundreds in Irvine and Santa Monica starting next month [Yahoo! Finance]
Microsoft Corporation (MSFT)
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Source: Yahoo! Finance
Irvine and Santa Monica locations next month as parent company Microsoft Corp. looks to cut costs in its gaming division. The Santa Monica-based video game maker notified employees of the layoffs about two weeks ago. By the end of the year, 140 employees will be cut from the Irvine facility and 110 will be laid off from the Santa Monica location, according to a state notification filed on Sept. 12 by Activision Blizzard. Additionally, the company's Playa Vista location will begin layoffs in November and cut a total of 143 employees by the end of the year, according to a separate notice. The Activision Blizzard layoffs are part of Microsoft's move to cut 3% of its global gaming employees, or 650 people. Microsoft completed its acquisition of Activision Blizzard last year after much scrutiny by antitrust regulators. The $69-billion deal is the biggest in video game history. In an email earlier this month to staff, Microsoft Gaming Chief Executive Phil Spencer said the cuts were
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