The misery continues to pile on for the video game industry after its top stocks suffered double-digit declines last Wednesday.
Bloomberg reported on Friday in which Activision Blizzard, the video game publisher of blockbuster franchises such as “Call of Duty,” “Diablo” in addition to “Warcraft,” plans to announce on Tuesday a round of jobs cuts “which could number within the hundreds.”
The layoffs would likely be part of a restructuring effort as the company faces sluggish sales, Bloomberg reported, citing unnamed sources familiar with the matter.
Activision Blizzard did not immediately respond to a CNBC request for comment on Bloomberg’s report sent outside regular office hours.
Earlier in January, Activision’s stock was sent tumbling 7 percent in after-market hours after the idea announced a split via game studio Bungie, which developed the favorite “Destiny” game franchise.