ESL FACEIT Group Navigates Restructuring Amidst Layoffs

In a recent development unveiled by Jordan Fragen of GamesBeat, ESL FACEIT Group (EFG) has announced a significant restructuring endeavor, entailing a series of layoffs impacting approximately 15% of its workforce.

These layoffs are reported to extend across various positions within EFG's global workforce, surpassing the scope of their July 2023 layoffs that primarily affected EFG subsidiary Esports Engine.

"This change is designed to support EFG’s sustainable growth ambitions and will enable us to adapt more quickly to publisher, sponsor, or other partner needs" says EFG in their Media FAQ. Contrary to speculations, EFG remains steadfast in its belief that these layoffs will not impinge upon its partnerships. Instead, the company anticipates that these strategic measures will enhance its responsiveness.

This is the second layoffs following EFG's conjectural $1.5 Billion acquisition by the Saudi-based Savvy Games. The firm is owned by the Saudi Public Investment Fund (PIF) and holds deep ties to the Saudi state, with Crown Prince and Prime Minister Mohammed bin Salman serving as the Chairman of the Board.

As per the Media FAQ, EFG have not disclosed the exact number of employees affected by the layoffs, citing "local labor laws" of certain markets.