Garena lays off 15% of staff in the Shanghai office

Two of the three sources confirmed this number.
A walking woman and Garena logo on a white wall
Garena entered among the companies that made layoffs.

According to the reported information, Garena, one of the biggest names in the battle royale field, has laid off more than 100 people. Apart from Garena, a subsidiary of Sea Ltd, Shopee, another company subsidiary, announced a few days ago that it had ceased local operations in Colombia, Chile, and Mexico.

This news, which came after a short time without layoffs, broke the silence. The company has announced considerable losses in the past months, probably due to the ban of Garena Free Fire in India.

Garena Free Fire banned India in February 2022, where it made the most money and saw it topped the charts. Among the games with more than 1 billion downloads, Free Fire received the most downloads from India, with 238 million.

According to the news quoted by Reuters, two of the three sources said that Garena laid off 15% of the employees this week. Also, another source confirmed the number of layoffs was in the “low several hundred.”

The last time we saw many big companies make layoffs was in June. Playtika announced that it was closing three studios by laying off 250 people. In addition, Pokémon Go developer Niantic laid off 85 to 90 people and canceled four new projects. The layoffs were not limited to these. Unity, which merged with ironSource last month, laid off more than 300 people to rearrange its resources.

It seems that these layoffs, which are a result of the global economic recession, will continue for a while. Many companies were reporting a decline in their revenues and decided to close some of their departments. Experts, on the other hand, predict that these declines in the post-pandemic period will turn into healthy growth after a certain period.

next: Animoca Brands announced it raised $110 million from tamasek, boyu, and ggv capitalAnimoca Brands Logo

Leave a Reply

Your email address will not be published. Required fields are marked *