Israeli gaming company Playtika is preparing to lay off about 20 percent of its employees in December, sources told Calcalist. The cuts are expected to begin next month, with an estimated 700 to 800 workers to be dismissed. Playtika currently employs about 3,500 people, including roughly 1,000 in Israel.
The company has carried out four rounds of layoffs since 2022 in which more than 1,000 employees were dismissed. The most recent round took place in June. Playtika is traded on Nasdaq with a market value of about 1.5 billion dollars.
In the third quarter, the company reported revenue of 674.6 million dollars and net income of about 39 million dollars.
Playtika develops social casino games and free casual mobile games.
The company said in a statement, “In keeping with company policy, we do not comment on matters of this nature.”