Jam City lays off staff as part of ‘restructuring’
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Jam City has laid off over one hundred members of the staff today. According to the company, it laid off about 17% of its workforce. Given the number of employees it has, this is somewhere between 150 and 200 employees.
Jam City is the mobile developer behind titles like Harry Potter: Hogwarts Mystery, Disney Emoji Blitz, and most recently, the blockchain game Champions Ascension. Last year it cancelled plans to go public via a $1.5 billion SPAC.
A spokesperson for Jam City said in a statement, “In light of the challenging global economy and its impact on the gaming industry, Jam City has made the difficult decision to reduce the size of our team by about 17%. In recent years, we have made a number of strategic acquisitions, and this move represents a right sizing of our work force to address redundancies associated with those transactions.
“While Jam City remains profitable, we believe that in the current operating environment, this is a necessary move to enhance our financial flexibility and increase operating efficiencies, better positioning Jam City for long-term growth. This also follows a broader restructuring we recently completed to realign our development teams under genre divisions focused on subject-matter expertise to optimize performance. We thank those who are leaving us for their many contributions and are providing severance packages and benefits to help with the transition.”
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