Report: Activision Blizzard to make significant layoffs this week

Those "familiar with the matter" claim Activision Blizzard plans to cut hundreds of jobs in a bid to centralize functions and boost profits.

Activision Blizzard will announce significant layoffs on Tuesday, according to a report from Bloomberg

Those "familiar with the matter" told Bloomberg the company plans to cut hundreds of jobs in a bid to centralize functions and boost profits, resulting in shares dropping by 2.5 percent on Friday. 

The company has seen certain key titles falter in recent months, and back in November revenues dropped off with the likes of Overwatch, Hearthstone, and Destiny 2: Forsaken underperforming. 

Since then, Activision has parted ways with Destiny developer Bungie, with the Halo creator taking back the publishing rights to the franchise so Activision can "increase its focus on owned IP and other projects."

The split resulted in a number of Destiny support staff -- tasked with handling PR, social media, and marketing, and other such duties -- being left behind at Activision without a game to manage. 

Adding to that climate of uncertainty are the number of high-profile departures Activision witnessed during 2018, with Activision CEO Eric Hirshberg leaving back in March and Blizzard Entertainment president Mike Morhaime stepping down in October

Activision Blizzard CFO Spencer Neumann was then fired in December for "violating his legal obligations to the company," which was likely related to his rather timely hiring by Netflix.

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