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Kabam, which makes mobile games in partnership with entertainment brands including Disney, Marvel and Universal, has laid off about 7% — about 35 people — of its workforce, TechCrunch has learned from sources confirmed by email with the company.
The Vancouver-based company notified affected employees of the move earlier this week, according to a person familiar with the development.
“Having reviewed our strategic priorities at Kabam, we have decided to realign our resource structure in line with our goals. This means we will continue to hire in key positions in the coming year, unfortunately, reducing our workforce by approximately 7%. We are grateful to those we are parting with. [sic] “They have contributed to our success and are helping us through this challenging transition,” a Kabam spokesperson said in an emailed statement to TechCrush.
The company has more than 500 employees.
Kabam has a catalog of mobile games generating hundreds of millions of downloads, including Marvel Contest of Champions, Disney Mirrorverse, Shop Titans, Transformers: Forged to Fight, Mini Guns, Fast & Furious 6: The Game, Fast & Furious: Legacy and Blastron. The company has studios and offices in Montreal, San Francisco, Charlottetown, Austin and Los Angeles – with its headquarters in Vancouver.
In the year Founded in 2006, the game company operated as a startup until it was bought by South Korea’s Netmarble Games for a reported $700 million to $800 million in 2016.
In March this year, Netmarble’s North American operations merged with Kabam. It aims to bring more Netmarble game titles to Western markets.
Kabam is one of several companies in the tech world that have cut their workforce during this economic downturn. Over the past few days, the impact of the ongoing financial crisis has been felt due to massive funding cuts announced by Twitter and Meta. Companies including Netflix, Spotify and Tencent have let some employees go. Similarly, Indian startups like Unacademy, Byju’s and Ola have laid off hundreds and thousands of employees to reduce the burden of limited funds and investments.
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