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The powerhouse of the esports industry, ESL FACEIT, shockingly revealed that it intended to fire almost 15% of its workforce worldwide. This decision follows a historic merger that took place in 2022 between ESL and FACEIT, under the Saudi Arabian company Savvy Games Group, in a deal valued at an astounding $1.5 billion. Just months ago, ESL FACEIT expressed optimism about the future of esports, but with up to 300 staff set for layoffs, the company is now faced with the hard reality of downsizing.
This wave of layoffs marks one of the most significant setbacks to rock the esports industry in recent memory. The broader gaming landscape has already been reeling from the impact of widespread job cuts over the past year, casting a shadow over esports, which shares symbiotic ties with the gaming sphere.
In a memo obtained by GamesBeat, co-CEOs Craig Levine and Niccolo Maisto stated:
“To ensure ESL Faceit Group continues to evolve in a fast-paced market, we are planning to reduce the size of our team by roughly fifteen-percent. This change is designed to support EFG’s sustainable growth ambitions and profitability.”
Even while the leadership did not make this choice lightly, it is clear that it is committed to guiding ESL FACEIT through this transition with openness and responsibility. The firm sees this reorganization as a springboard for the next stage of its development, one that will allow it to improve the services it provides to partners and the community at large.