Activision

Activision Blizzard, the publisher of blockbuster games like Call of Duty: Black Ops 4, World of Warcraft and Overwatch, just posted its best financial results in the company's history. Now, it's likely going to lay off hundreds of employees.

According to Variety, Activision Blizzard will cut 775 jobs, about 8 percent of the workforce. The news came following Activision Blizzard's 2018 financial results. Revenue reached $7.5 billion, up 6 percent from $7.02 billion a year earlier.

"While our financial results for 2018 were the best in our history, we didn't realize our full potential," Activision Blizzard CEO Bobby Kotick said in the company's earnings report. "To help us reach our full potential, we have made a number of important leadership changes."

The cuts will come from non-development teams and support staff, according to an internal letter from Blizzard president J. Allen Brack that was seen by Kotaku.

Activision Blizzard didn't immediately respond to a request for comment.

In a press release, Activision Blizzard indicated the cuts wouldn't affect the development of new games. The company says it will be adding development staff for its major franchises, such as Overwatch, Call of Duty and Diablo. The increases for those franchises could be in the neighborhood of 20 percent this year.

Kotaku reports the letter also promised to cut employees job placement assistance, health coverage and profit-sharing bonuses as part of a "comprehensive severance package."

The layoffs follow major changes at the company, which recently spun out Bungie, the team behind Destiny.

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