12 months of record-setting financial performance + 800 people laid off = one terrible week.
The sad truth is that the die was cast at Activision Blizzard months, if not years, before these layoffs were first hinted. What makes this so exceptionally painful is that there is an understandable mental link between layoffs and poor financial performance. It’s nigh impossible to rationalize or justify 800 people being shown the door as a company reports record sales.
Poor planning, a failure to adapt to current market conditions and consumer desires, and too much investment in trends (like toys to life games) has left Activision Blizzard in a place where it needs to make drastic cuts. That’s a thin blanket against the cold reality that executive pay is broken and now hundreds of people are out of work.