A mashup of Jam City’s games.
Image Credit: Jam City
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Jam City has let go over a hundred members of the staff today. Based on the company, it let go about 17% of its workforce. Given the amount of employees it has, that is somewhere within 150 and 200 employees.
Jam City may be the mobile developer behind titles like Harry Potter: Hogwarts Mystery, Disney Emoji Blitz, & most recently, the blockchain game Champions Ascension. This past year it cancelled plans to go public with a $1.5 billion SPAC.
A spokesperson for Jam City said in a statement, In light of the challenging global economy and its own effect on the gaming industry, Jam City has made the difficult decision to lessen how big is we by about 17%. Recently, we’ve made several strategic acquisitions, which move represents the right sizing of our employees to handle redundancies connected with those transactions.
While Jam City remains profitable, we think that in today’s operating environment, it is a necessary proceed to enhance our financial flexibility and increase operating efficiencies, better positioning Jam City for long-term growth. This follows a broader restructuring we recently completed to realign our development teams under genre divisions centered on subject-matter expertise to optimize performance. We thank those people who are leaving us because of their many contributions and so are providing severance packages and advantages to help with the transition.
This comes significantly less than per year after Jam City raised $350 million in financing simultaneously it acquired Montreal-based studio Ludia. Jam City also offers studios in LA, San Francisco, NORTH PARK, NEVADA, Cedar Falls and Toronto, and also others in Bogota and Buenos Aires. Its not yet determined if any studios tend to be more suffering from the layoffs than others.
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