AM I NEXT? NO LOVE AT ACELITY KINETIC CONCEPTS

San Antonio, Texas-based Acelity, a holding company whose operating subsidiaries Kinetic Concepts, Inc. (KCI) and Systagenix develop and market advanced wound care products, has announced that it will be undergoing a restructuring that will result in the elimination of 265 employees, mostly performing administrative support and customer service duties. Approximately 200 employees in the San Antonio office and 65 employees in the KCI service center in Charlotte, North Carolina facility will be affected. Operations at the Charlotte office will be phased out and closed permanently.

Speaking about the restructuring, a company spokesperson noted, "Unfortunately, this will result in position eliminations for some of our colleagues in San Antonio and Charlotte in the coming months. While this decision is difficult, it is necessary as we expand our commitment to improving our customers’ experience. We are communicating with our teams now so that we can maintain transparency and work together through this process. We are fully committed to offering support and resources, including employee assistance, career counseling and outplacement services to minimize the disruption for those who will be departing the company later this year."

There are no guarantees in life, or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere ... are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT ACTIVISION BLIZZARD (01/25/24)

JANUARY 25, 2024 — 1,900 EMPLOYEES TARGETED

Following its acquisition of Activision, the company has laid off 9% of its gaming workforce, about 1,900 employees.

Microsoft Gaming chief Phil Spencer noted, “As we move forward in 2024, the leadership of Microsoft Gaming and Activision Blizzard is committed to aligning on a strategy and an execution plan with a sustainable cost structure that will support the whole of our growing business. Together, we’ve set priorities, identified areas of overlap, and ensured that we’re all aligned on the best opportunities for growth.”

DECEMBER 9, 2022 — FTC SUES TO BLOCK MERGER

The Federal Trade Commission will seek to block Microsoft's $69 billion acquisition of video game developer Activision Blizzard,

"Microsoft has already shown that it can and will withhold content from its gaming rivals. Today we seek to stop Microsoft from gaining control over a leading independent game studio and using it to harm competition in multiple dynamic and fast-growing gaming markets."

JANUARY 19, 2022 — ACTIVISION TO BE ACQUIRED BY MICROSOFT. IS THIS THE BEGINNING OF A PURGE?

Microsoft released the following statement.

Microsoft will acquire Activision Blizzard for $95.00 per share, in an all-cash transaction valued at $68.7 billion, inclusive of Activision Blizzard’s net cash. When the transaction closes, Microsoft will become the world’s third-largest gaming company by revenue, behind Tencent and Sony. The planned acquisition includes iconic franchises from the Activision, Blizzard and King studios like “Warcraft,” “Diablo,” “Overwatch,” “Call of Duty” and “Candy Crush,” in addition to global eSports activities through Major League Gaming. The company has studios around the world with nearly 10,000 employees.

Bobby Kotick will continue to serve as CEO of Activision Blizzard, and he and his team will maintain their focus on driving efforts to further strengthen the company’s culture and accelerate business growth. Once the deal closes, the Activision Blizzard business will report to Phil Spencer, CEO, Microsoft Gaming.

JANUARY 18, 2022 — OVER 40 EMPLOYEES FIRED, OTHERS DISCIPLINED FOR SEXUAL MISBEHAVIOR AND OTHER ISSUES

According to published reports…

More than three dozen employees have been shown the door at Activision Blizzard.

The Wall Street Journal reported Monday that the video game developer fired or pushed out the employees to address allegations of sexual harassment and other misconduct. It said another 40 employees have been disciplined.

DECEMBER 4, 2021 — QUALITY ASSURANCE TESTERS LAID OFF

Raven Software, an Activision Blizzard-owned studio that develops games like “Call of Duty: Black Ops Cold War” and “Call of Duty: Warzone, is laying off contract QA testers in Madison, Wisconsin. Some contractors have already been separated with others dreading the next separation date on January 28, 2022.

It appears that the company told quality assurance testers at other company studios that Activision Blizzard has ended its contract with staffing partner Tapfin and will expand its contract with Volt, another personnel provider so that current testers at some studios will now become Volt employees.

Being re-badged to a personnel provider ensures the company can act quickly on flexible staffing decisions without facing the legal liabilities from employees.

MARCH 24, 2021 — ANGER IN THE RANKS AS EMPLOYEES GET $200 GIFT CARDS AND THE CEO WALKS AWAY WITH $200 MILLION.

It appears that numerous Activision Blizzard employees who have been laid off or facing another round of layoffs are upset that CEO Bobby Kotick is set to get paid a $200 million bonus in cash.

Some employees contrasted that payout with the giving laid-off staff with a $200 Battle.net gift card given to departing employees.

The layoffs are continuing, especially in the company’s European operations.

MARCH 17, 2021 — BLIZZARD PIVOT WITH 50 ESPORTS LAYOFFS; 190 TOTAL LAYOFFS

The company has announced a pivot away from live events and will be laying off at least 190 employees, with 50 employees in the esports divisions, the majority of whom support live events. Also affected are some employees working for King, the publisher of Candy Crush.

According to a company spokesperson, "Players are increasingly choosing to connect with our games digitally and the e-sports team, much like traditional sports, entertainment, and broadcasting industries, has had to adapt its business due to the impact the pandemic has had on live events."

FEBRUARY 13, 2019 — Original post…

Santa Monica, California-based Activision Blizzard, a major American video game and film holding company, has announced a major restructuring effort that will result in a major reduction in force, estimated to include 800 employees. An Activision spokesperson characterizes the restructuring as a “de-prioritizing of initiatives that didn’t meet expectations.

In announcing changes on the Fourth Quarter Earnings call, CEO Bobby Kotick, noted…

“While we had record performance in 2018, it didn't quite live up to our expectations. We didn't execute as well as we hoped to in 2018 and our current outlook for 2019 falls below what is possible in an industry filled with growth opportunities.

We measure our success by growth in reach, engagement, and player investment and while we had record financial results in 2018, we didn't achieve the reach engagement and player investment goals we set for ourselves. 2019 will require significant change to enable us to achieve our long-term goals and objectives. We're making changes to enable our development teams to create better content for our biggest franchises more quickly. Across our key franchises, we're adding development talent to ensure our teams can deliver exactly what our fans have come to expect from our games, a consistent flow of compelling content.

We'll also increase our focus on adjacent opportunities with demonstrated potential like esports for Overwatch League and Call of Duty. We're stepping up production on our incubation efforts faster and increasing our investment in live services, in our tools, in our Battle.net platform and in new areas like our fast-growing esports and advertising efforts, but all with an intense focus on excellence, so we never disappoint our players.

Our pipeline is excellent and our development talent the very best in the world. But we need to refocus our efforts so that our development and production resources are better aligned with our priorities. We're reducing or eliminating investment in games and initiatives that weren't living up to player expectations, where our leadership teams have determined may not live up to player expectations in the future. To drive improved execution and to fund development investment, we will in certain parts of the business reduce complexity and duplication in our back-office functions, consolidate certain commercial operations, and revamp our consumer marketing capabilities to reflect our continued migration to a largely digital network.

While this isn't a shift in our strategy, achieving better execution requires change, change that requires new leadership and organizational commitment to change. We operate in an industry with proven growth and real potential and we haven't grown at the rates that reflect the opportunities our industry affords. We have new business unit leadership committed to serving our players, our employees and our shareholders.”

And from Coddy Johnson - Chief Operating Officer …

“We have, therefore, developed a clear plan for this year to refocus and reinforce the foundation for growth. This refocus includes initiatives developed by our new business unit leaders each of whom has demonstrated the ability to combine creative excellence with the commercial focus on profitable growth.

First, we are investing more in development for our biggest internally owned franchises across upfront releases, in-game content, mobile and geographic expansion. Second, we are deprioritizing initiatives that are not meeting our expectations and reducing certain non-development and administrative-related costs across our business. Third, we are integrating our global and regional sales and go-to-market partnerships and sponsorships capabilities across the business, enabling us to better leverage talent, expertise, and scale on behalf of our business units.

Our restructuring plan sheds investment and less productive non-strategic areas of our business and will result in a net headcount reduction of approximately 8% while also driving a significant increase in investment, focus, and capabilities around our biggest franchises. We're confident that over time this plan will enable our teams to accelerate the delivery of high-quality content to our communities.

Specifically, as we reallocate resources and hire new talent, we are planning for the number of developers working on Call of Duty, Candy, Overwatch, Warcraft, Hearthstone, and Diablo to increase in aggregate by approximately 20% over the course of the coming year. For Call of Duty, Activision management expects additional resources to deliver more frequent content updates and events for the franchise and accelerate its expansion across platforms and geographies.”

There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere ... are you now wondering, Am I Next?

AM I NEXT? NO LOVE -- LAYOFFS AT VICE MEDIA (02/23/24)

FEBRUARY 23, 2024 —VICE SHUTS DOWN CONTENT SITE: HUNDREDS IMPACTED

The company will no longer publish material on its Vice.com website and plans to lay off several hundred employees.

CEO Bruce Dixon noted, “I know that saying goodbye to our valued colleagues is difficult and feels overwhelming, but this is the best path forward for Vice as we position the company for long-term creative and financial success.”

Dear Vice Team,

As we navigate the ever-evolving business landscape, we need to adapt and best align our strategies to be more competitive in the long term.

After careful consideration and discussion with the board, we have decided to make some fundamental changes to our strategic vision at Vice.

We create and produce outstanding original content true to the Vice brand. However, it is no longer cost-effective for us to distribute our digital content the way we have done previously. Moving forward, we will look to partner with established media companies to distribute our digital content, including news, on their global platforms, as we fully transition to a studio model.

As part of this shift, we will no longer publish content on vice.com, instead putting more emphasis on our social channels as we accelerate our discussions with partners to take our content to where it will be viewed most broadly.

Separately, Refinery 29 will continue to operate as a standalone diversified digital publishing business, creating engaging, social-first content.

As you know, we are in advanced discussions to sell this business, and we are continuing with that process. We expect to announce more on that in the coming weeks.

With this strategic shift comes the need to realign our resources and streamline our overall operations at Vice.

Regrettably, this means that we will be reducing our workforce, eliminating several hundred positions. This decision was not made lightly, and I understand the significant impact it will have on those affected. Employees who will be affected will notified about next steps early next week, consistent with local laws and practices.

I know that saying goodbye to our valued colleagues is difficult and feels overwhelming, but this is the best path forward for Vice as we position the company for long-term creative and financial success.

Our financial partners are supportive and have agreed to invest in this operating model going forward. We will emerge stronger and more resilient as we embark on this new phase of our journey.

Thank you for your continued dedication to Vice and support during this time of transition. Together, I am confident that we will overcome any challenges and achieve our shared goals.

Bruce

APRIL 30, 2023 — 100 LAYOFFS

Vice is continuing with the restructuring of its global news operation, including shuttering its Vice News Tonight broadcast and attempting to sell itself as it is laying off 100+ employees.

A company spokesperson noted, “We are transforming VICE News to better withstand market realities and more closely align with how and where we see our audiences engaging with our content most.”

JANUARY 19, 2023 — SALE PROCESS RESTARTED AT A LOWER VALUATION

It appears that Vice Media is restarting its sale process after earlier bidders rejected the initial valuation and price tag.

It appears the move is being driven by Vice’s lenders, notably Fortress Investment Group which is seeking repayment on its loans.

MAY 2, 2022 — VICE FOR SALE? EMPLOYEES BEWARE!

Following the failure of a SPAC-based IPO, Vice Media appears to have hired financial advisors, New York, New York-based PJT Partners, a financial and strategic advisory service, and New York, New York-based LionTree, an investment bank, to investigate the sale of the entire company or its major assets.

AUGUST 27, 2021 — STEALTH LAYOFF

Cory Haik, Vice’s chief digital officer, sent a memo noting Vice’s intention to incorporate more video in their product line.

“As part of this continued global alignment we’ve unfortunately had to say goodbye to some of our friends and colleagues. We wish them well and thank them for their dedicated service over the years.”

It is being reported that the “layoffs mainly came from the female-focused Refinery29, as well as Vice’s lifestyle-centric digital sites like Noisey and Munchies, which cover music and food, respectively. Those sites will have fewer articles and more videos in the future.”

MAY 15, 2020 — REDUCTION IN FORCE: 155 EMPLOYEES

Vice Media has confirmed that it will lay off 55 domestic and 100 international employees to re-balance the workforce.

According to a company spokesperson, Currently, our digital organization accounts for around 50 percent of our headcount costs, but only brings in about 21 percent of our revenue. Looking at our business holistically, this imbalance needed to be addressed for the long-term health of our company.

“Publishing right now is difficult across the whole industry — plain and simple — and the pandemic has intensified the tensions we all know exist between publishing and advertising. We aren't seeing the return from the platforms benefiting and making money from our hard work. Now, after many years of this, the squeeze is becoming a chokehold."

APRIL 21, 2020 — PLANNING DOCUMENT CIRCULATING AMONG EXECUTIVES MAY PORTEND 300 LAYOFFS IN DIGITIAL GROUP

The Wall Street Journal is reporting…

“An internal document at Vice Media Group lays out a plan for substantial layoffs at the new-media company’s websites, as Vice considers a variety of options to deal with coronavirus pandemic.

The planning document, which was reviewed by The Wall Street Journal, calls for layoffs of over 300 people in digital operations, including major cuts at both Vice News and Refinery29, the women-focused digital publisher Vice acquired last year.

A Vice Media Group spokeswoman said the planning document represented one of several scenarios being developed inside the company for potential consideration and hadn’t been endorsed by management.

“This information also does not reflect [Vice Media Group] standard global reporting metrics and while all media companies are taking steps to plan for precautionary measures during Covid-19, no decisions at VMG have been made,” the spokeswoman said.

The savings from the cuts laid out in the document would be about $40 million, and they could result in a 30% decline in digital traffic as less content is published, the document said.”

Many companies are using the Covid-19 pandemic to effect operational restructuring and reductions in headcount to deal with existing structural and financial problems and to prepare for a recovery without undue Wall Street and media scrutiny.

JUNE 4, 2019 — SOMEONE HAS TO BE HELD ACCOUNTABLE

In a staff email, the Senior Vice President for Digital has announced, “In making changes to the organizational structure of the digital editorial group, we had to make difficult decisions that mean Jonathan Smith and Rachel Schallom are no longer with the company.

Jonathan Smith, a ten-year Vice veteran served as the editor in chief for three years, and Rachel Schallom had been Vice’s managing editor for less than a year.

The red ink does not stop with these two and Disney has already written off more that $500 million for its 25% investment in Vice.

FEBRUARY 12, 2019 — LIVING THE HIGH LIFE WHEN YOU ARE LAYING OFF EMPLOYEES

The New York Post’s Page Six noted that Vice co-founder and Executive Chairman Shane Smith is a Las Vegas, Nevada high-roller.

“The bearded Canadian, who was said to be worth $1 billion two years ago, regularly flies with his family to Vegas on a private jet provided by the Mansion at MGM.

With Vice expecting $50 million in losses this year and a round of layoffs underway that will trim off 10 percent of its workforce, a former Vice staffer told me, “It’s disheartening.” The staffer said that “while Vice burns,” Smith seems to be “fiddling in Vegas.”

Smith plays blackjack in a private salon with $25,000 orange-colored chips known as “pumpkins.” There are no other players, just a dealer, and a floorman.

When he wins, Smith is a big tipper, known in Vegas vernacular as a “George.” “He has been known to tip over $100,000,” my source said.” Read more on Page Six.

But what is more galling appears to be the hypocrisy of Vice whose headlines are troublesome.

FEBRUARY 5, 2019 — Original post…

New York City, New York-based Vice Media, started as an alternative-culture magazine in Montreal, Canada, has accounted that they are executing a reduction in force of approximately 10-percent of its employees in a restructuring move. An estimated 250 employees will be affected.

The company will be structured around five separate media business units, including studio, TV, digital, news and Virtue, the company’s advertising agency.

In a statement by Vice CEO Nancy Dubuc, “Having finalized the 2019 budget, our focus shifts to executing our goals and hitting our marks. To this end, we’ve had to make hard but necessary operating decisions. Starting today, the next phase of our plan begins as we reorganize our global workforce. Unfortunately, this means we will have to say goodbye to some of our Vice colleagues. The reorg at Vice will shift from a country-centric structure to one geared around the company’s five lines of business: studios, news, digital, TV and in-house ad agency Virtue. We will make Vice the best manifestation of itself and cement its place long into the future.”

It should come as no surprise as a number of media companies have struggled with declining revenues and increased costs while searching for a sustainable business model that differentiates their offerings from more well-funded competitors.

The company has been plagued by leadership changes involving allegations of having a “culture of sexual misconduct” and company-paid settlements with various involved parties. The founders published a mea culpa in the form of a statement to employees that noted “Listening to our employees over the past year, the truth is inescapable: from the top down, we have failed as a company to create a safe and inclusive workplace where everyone, especially women, can feel respected and thrive”

There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere ... are you now wondering, Am I Next?