Game maker Warsaw Stock Exchange announces layoffs. Every 10th employee will be fired

For months now, tech companies around the world have been sending warning signals of job cuts. At the end of 2022, the Meta group, which owns Facebook and Instagram, said goodbye to 11,000 people. employees, and a few days ago announced the need to cut staff by another 10 thousand jobs. Liquidation of 9k also announced by Amazon yesterday is another solution of this type.

Huuuge, the manufacturer of PC games, announced cuts

Investors also received word yesterday that Huuuge, the PC game maker listed on the Warsaw Stock Exchange, will cut about 10 percent of its stake. employees. Huuuge said it would issue another collective layoff after completing legally required consultations with an employee representative.

“Following the decision of the management board of the subsidiary, the employee representative will be notified of the intention to carry out collective layoffs and the start of the consultation procedure. In addition, the subsidiary will notify the relevant employment services of its intention to carry out a collective layoff.

Huuge says the fact that the company had an account with Silicon Valley Bank that collapsed almost two weeks ago was not significant to the decision to lay off staff. The bank still exists because the supervisory authorities took timely measures to prevent its bankruptcy and insolvency, but customers can only withdraw up to PLN 250,000. dollars. The board of the game producer claims that he was able to transfer $23.6 million (up from $24.2 million) from an SVB account to another bank.