Activision Blizzard is reportedly planning hundreds of layoffs

The video game industry isn’t done with its bad news, it seems. Bloomberg reported that Activision Blizzard plans to lay off hundreds of people in a restructuring aimed at centralizing functions and boosting profits.

The Santa Monica, California-based company is one of the largest companies in the global game business, but it has hit a tough patch, with slowing game sales and increased competition. Bloomberg cited unnamed sources who are familiar with the layoff plans. A spokesperson for Activision Blizzard declined to comment to me. This news follows a week of bad news for game companies.