ESL Faceit Group might not be a name you recognise, but thanks to a series of, perhaps ill-advised mergers over the last few years, they are technically the world’s largest esports company, and they’ve just announced that they’re laying off 15% of their global workforce.
To ensure ESL Faceit Group continues to evolve in a fast-paced market, we are planning to reduce the size of our team by roughly fifteen-percent.
This change is designed to support EFG’s sustainable growth ambitions and profitability. – CEOs Craig Levine and Nic Maisto
According to ESL Faceit Group, reducing their workforce will help support the company’s sustainable growth ambitions and profitability. The company was started in 2022 when Savvy Gaming Group went ahead and purchased esports event organiser ESL and tournament platform Faceit for a reported $1.5 billion.
Then, in 2023, Savvy Gaming added technology and infrastructure company Vindex and its Esports Engine division to the ESL Faceit Group, effectively making ESL Faceit Group the largest esports company in the world – for better or worse.
With the industry in constant change, we must adapt, become more efficient, and be more flexible as a team.
These moves, along with efforts to reorient the team on EFG’s core mission and vision, will sharpen our focus and better equip us to navigate the dynamic esports and gaming landscape by removing complexity and better integration across all teams. – Craig Levine and Nic Maisto
News of these layoffs came just one day after Sony announced that they would be saying goodbye to 900 staff members, and Supermassive announced they would be laying off roughly 90 employees.
What are your thoughts on these seemingly endless layoffs? Let us know in the comments.