ESL Faceit, the world’s largest esports company, announces it will lay off 15% of its staff

DoNews reported on February 28 that ESL Faceit, an e-sports company invested in Saudi Arabia, announced that it would lay off 15% of its employees. ESL co-CEOs Craig Levine and Niccolo Maisto wrote in the memo that the layoffs are intended to support "sustainable growth ambitions and profitability."

The memo also mentioned that since 2021, the company has merged ESL, FACEIT and infrastructure company Vindex/EE into the world's largest esports company. The company will continue to integrate its operations and improve the efficiency of its global employees. As the industry continues to change, "As a team, we must continue to adapt, improve efficiency and flexibility."

According to a report by Bloomberg early this morning, Beijing time, a person familiar with the matter revealed that the scale of layoffs will reach several figures. Hundreds of people. Esports organizations have struggled to increase revenue amid declining viewership and fewer sponsorship opportunities. Bloomberg also claims that ESL’s Esports World Cup is scheduled to be held in Saudi Arabia in the summer of 2024.

The 2024 Saudi E-Sports World Cup will include projects such as "PlayerUnknown's Battlegrounds", "Honor of Kings", "The Summit", "StarCraft II", etc. The event in 2023 also includes games such as "CS:GO", "Rocket League", "Fortnite", "Street Fighter" and "Rainbow Six: Siege".

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