The ESL FACEIT Group has announced a global layoff that will strip off 15% of their worldwide workforce across all divisions.
ESL Faceit has been one of the most prominent organizers of CS events across the globe but according to the latest events the company has been forced to lay off its employees for ‘sustainable growth ambitions and profitability’ reasons. While esports economics has always been challenging, it was incredibly difficult to imagine a company like ESL having issues with sustainability.
ESL FACEIT Group Co-CEOs Craig Levine and Nic Maisto stated: “With the industry in constant change, we must adapt, become more efficient, and be more flexible as a team. These moves, along with efforts to reorient the team on EFG’s core mission and vision, will sharpen our focus and better equip us to navigate the dynamic esports and gaming landscape by removing complexity and better integration across all teams.”
ESL FACEIT Group further highlighted “reorganization will ensure EFG continues to evolve in a fast-paced market and support the reorganization of EFG toward its primary business goals”.
The ESL FACEIT Group Co-CEOs, Craig Levine and Nic Maisto have announced a layoff round on the company’s website. It involves a 15% reduction in the workforce, affecting employees at all levels and departments. The company has not provided specific numbers due to labor laws, but it is estimated that up to 300 employees will be laid off.
Stay updated with the latest news in gaming and esports by signing up for early access to TalkEsport’s Mobile App. Follow us on Twitter and Google News to ensure you never miss the exciting updates.
