Gaming company Kabam lays off 7% of its workforce to better align with goals • TechCrunch
KabamThe gaming company, which developed mobile games alongside entertainment brands including Disney, Marvel and Universal, has laid off about 7% of its workforce — about 35 people — TechCrunch has learned from sources and confirmed via email with the company. has
The Vancouver-based company notified affected employees of the move earlier this week, a person familiar with the development said.
“As we reviewed our strategic priorities in Kabam, we decided to adjust our resource structure in line with our goals. This means that while we will continue to hire in key areas next year, unfortunately we are reducing our workforce by approximately 7%. We thank those we are sharing with [sic] their contributions to our success, and are helping us through this difficult transition,” a Kabam spokesperson said in a statement emailed to TechCrunch.
The company has more than 500 employees.
Kabam has a catalog of mobile games generating hundreds of millions of total downloads, including Marvel Contest of Champions, Disney Mirrorverse, Shop Titans, Transformers: Forged to Fight, Mini Guns, Fast & Furious 6: The Game, Fast & Furious: Legacy . and Blastron. The company also has studios and offices in Montreal, San Francisco, Charlottetown, Austin and Los Angeles, along with its headquarters in Vancouver.
Founded in 2006, the gaming company operated as a startup until 2016. It was acquired by South Korea’s Netmarble Games For $700 million to $800 million.
In March of this year, Netmarble’s North American operations join up with Kabam It aimed to bring many Netmarble game titles to western markets.
Kabam is one of many companies in the tech world that have cut their workforce during this economic slowdown. In recent days, the impact of the ongoing financial crisis has largely been seen through the announced mass layoffs. Twitter and Meta. Including companies Netflix, Spotify and Tencent also leave some of their employees. Likewise, startups in India, for example Unacademy, Byju’s and Ola in addition, hundreds and thousands of workers have been laid off to reduce the burden of limited funding and investment.
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