Gaming Industry Layoffs: Crash Bandicoot Studio, Toys For Bob, Grapples With Office Closure
Portfolio Pulse from Franca Quarneti
Toys For Bob, the studio behind Crash Bandicoot, Spyro, and Skylanders, is closing its Novato, California office as part of Microsoft Corp.'s acquisition of Activision Blizzard, leading to 1,900 layoffs across the industry. The closure and layoffs, announced at the end of January, are part of Xbox's restructuring efforts of Activision Blizzard. This includes 86 layoffs from Toys for Bob and 76 from Sledgehammer Games. The long-term impact on Toys for Bob is uncertain as the gaming industry undergoes significant changes.
February 08, 2024 | 10:38 pm
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Microsoft's acquisition of Activision Blizzard leads to the closure of Toys For Bob and 1,900 industry layoffs as part of restructuring efforts.
The closure of Toys For Bob and the associated layoffs are direct consequences of Microsoft's acquisition of Activision Blizzard. While this news highlights significant restructuring within the gaming industry, the immediate financial impact on Microsoft's stock is likely neutral. The company's broad portfolio and financial strength may absorb the short-term effects of these layoffs and closures. However, investor sentiment could be influenced by perceptions of Microsoft's handling of the acquisition and its impact on the gaming community.
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