Ubisoft (OTCMKTS:UBSFY) layoffs are a hot topic on Tuesday after the video game publisher revealed plans to cut another 45 jobs.
The newest round of layoffs at Ubisoft covers employees in its global publishing and Asia-Pacific units. This is part of an effort at the company to streamline operations and boost its collective efficiency.
Ubisoft gave the following statement to GameSpot when asked about the layoffs:
“Today we announced that we are further reorganizing our Global Publishing central and APAC structures to adapt them to the market evolution with a more efficient and agile approach. Those changes will impact 45 positions overall. These are not decisions taken lightly and we are providing comprehensive support for our impacted colleagues.”
Ubisoft Layoffs Continue
Investors will remember that this isn’t the first time Ubisoft has announced layoffs recently. The company made cuts in November 2023 when it reduced its headcount by 124 workers.
Ubisoft is far from the only company in the video game industry that has been laying off employees recently. There have been large cuts across the market as several headwinds affect the sector. That includes the ongoing effects of inflation on consumer spending habits. It’s also likely more layoffs in the market will be announced in 2024.
Investors who want even more of the most recent stock market stories are going to want to stick around!
We have all of the hottest stock market news that traders need to know about on Tuesday! A few examples include what’s happening with shares of Canoo (NASDAQ:GOEV), Gritstone Bio (NASDAQ:GRTS) and Acorda Therapeutics (NASDAQ:ACOR) stock today. All of that info is available at the following links!
More Stock Market News for Tuesday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
