'Netflix Backs Out Of Plan To Develop Blockbuster Videogame; Company Laid Off A Team Of About 30 People In Southern California Who Worked On Franchises Such As Microsoft's Halo And Sony's God Of War' - WSJ
Portfolio Pulse from Benzinga Newsdesk
Netflix has decided to halt its plans to develop a high-end video game, opting instead to focus on casual games. This decision led to the layoff of about 30 employees in Southern California, including veterans from major franchises like Halo and God of War.
October 22, 2024 | 5:34 pm
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Netflix has abandoned its plan to develop a high-end video game, leading to layoffs of 30 employees. The company will now focus on casual games, which may impact its growth strategy in the gaming sector.
Netflix's decision to abandon a high-end game project suggests a strategic shift away from competing in the Triple-A gaming market. This could impact investor sentiment negatively as it indicates a retreat from a potentially lucrative market. The layoffs also highlight operational changes, which may be seen as a cost-cutting measure.
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