One-Third of Team17's Employees Allegedly to Lose Their Jobs
Within the restructuring program held by the company, up to 91 people are reported to be laid off.
Image credit: Team17 Digital Ltd, Worms Armageddon
Earlier on, we reported on the layoffs that apparently had taken place at the beginning of this month. Additionally, according to sources, the reported restructuring led to an increased number of job cuts. Around 50 employees in the QA department were allegedly facing the risk of losing their positions as the company considered outsourcing the QA work. The affected employees were reportedly informed about this decision during an urgent town hall meeting, with the restructuring process expected to conclude by November.
Recently, Eurogamer has shared more details about the new round of layoffs. According to them, Team17 is preparing to undergo a significant restructuring program that may result in the layoff of up to 91 employees, equivalent to one-third of the company's workforce. The company also added that as part of its major restructuring program, Team17 is set to experience job losses that extend beyond the QA department. This restructuring will impact employees in various departments, including marketing, usability, customer service, IT, and HR teams. The company is undergoing significant changes that will result in a reorganization of staff across multiple areas of the organization.
Image credit: Team17, Hell Let Loose
While Team17 has not made any public comments regarding the reasons behind the restructuring, reports suggest that staff and development parties have been informed that it is due to the intensely competitive release calendar the company is facing this year.
Despite the significant job cuts, Team17's financial performance remains robust. In the last month, the company reported a substantial 31% growth in revenue to £69.7 million, compared to the corresponding period in the previous year. Moreover, the gross profit witnessed a notable increase of 18%, amounting to £30.2 million.
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