ESL Faceit Group is reducing its workforce by 15% two years after the merger for $1.5 billion

ESL Faceit Group has announced a 15% reduction in its workforce, impacting numerous positions globally, as reported by VentureBeat.

In January 2022, EFG became the world’s largest independent esports company when Savvy Games Group acquired both ESL and Faceit for $1.5 billion. Since then, EFG has also incorporated Vindex and Esports Engine.

The company’s executives, Craig Levin and Nicolo Maisto, stated that the layoffs are aimed at supporting EFG’s ambitions for sustainable growth and profitability.

According to the Media FAQ released by the company after internal announcements, the layoffs were made to support the reorganization of EFG and its goals for sustainable development, growth, and profitability.

It is currently unknown how this will impact ESL, the tournament operator, and future esports events.

ESL Faceit Group emphasized that these reductions will help optimize the organization’s operations and enhance team integration. The gaming industry lost approximately 10,500 jobs in 2023 and an additional 6,100 jobs in the first two months of 2024.