Israeli mobile games developer Playtika Holding Corp. (Nasdaq: PLTK) is expected to lay off nearly 100 employees, some 3% of the company’s total workforce. Playtika, led by CEO Robert Antokol, had 3,500 employees worldwide at the end of 2024, including a substantial proportion of them in Israel. The layoffs will include about 50 employees in Israel and a similar number in offices around the world.
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The employees losing their jobs are working at Redecor Studio and Best Fiends Studio – two of the company’s games, the first is an interior design game and the second is defined as a game that includes character development and stories in a mystical world. Redecor came to Playtika with the acquisition of Finnish company Reworks for $400 million about four years ago. In its 2024 financial report, Playtika recognized a $29.9 million impairment loss on Reworks due to weaker-than-expected performance. According to reports abroad, about 50 employees were also recently laid off at Wooga, which Playtika acquired several years ago.
The layoffs come amid Playtika’s focus on profitability and profitable growth that will create long-term value. In the first quarter of the year, the company reported 8.4% growth in revenue to $706 million, while net profit fell 42.3% to $30.6 million. EBITDA was $167 million, and adjusted net profit, excluding various accounting items, increased by 34.1% to $36.2 million. Antokol said after the results were published that in the company’s 15th year of operations, the results reflect the strength and durability of its business model.
Playtika held its IPO in 2021 at a valuation of $11.1 billion. The company is traded on Nasdaq at a market cap of $1.824 billion, after its stock recovered slightly from the lows it reached earlier this year.
Published by Globes, Israel business news – en.globes.co.il – on June 5, 2025.
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