Do these 3 things before closing this tab:
1Fix the driver behind crashes, sound loss and screen glitches2Clear out junk files and repair common Windows errors3Scan for outdated or missing drivers - takes under a minuteESL FACEIT Group (EFG) said on February 27, 2024, that it planned to reduce its team by roughly 15%, citing a fast-changing market and its goals of sustainable growth and profitability. The company did not disclose an exact number of affected employees; a separate media report put the estimate at 250–300.
What EFG announced
In a statement dated February 27, 2024, co-CEOs Craig Levine and Niccolo Maisto wrote: “To ensure ESL FACEIT Group continues to evolve in a fast-paced market, we are planning to reduce the size of our team by roughly fifteen-percent.” They said the change was intended to support the company’s sustainable growth ambitions and profitability.
EFG described the cuts as part of integrating its businesses and teams, gaining efficiencies, and simplifying the organization. Those are the company’s stated reasons; the announcement does not independently establish what caused the decision.
How many employees were affected?
EFG announced an approximate reduction of 15%, but did not provide a confirmed headcount. Sports Business Journal described the cuts as global. The Esports Advocate reported that sources estimated 250–300 roles; that figure was a reported estimate, not a total confirmed by EFG.
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What support did the company say it would provide?
EFG said employment procedures would vary by country because local laws and consultation requirements differ. It also said it would provide global financial support in addition to local considerations, and that affected employees could keep their laptop and mobile phone.
How the layoffs relate to the ESL–FACEIT merger
On January 24, 2022, Savvy Games Group announced that ESL and FACEIT would combine under ESL FACEIT Group, with Savvy as the new owner. The announcement said Savvy Games Group was fully owned by Saudi Arabia’s Public Investment Fund. Sports Business Journal later reported the acquisition valuation as $1.5 billion; that figure was reported by media and was not stated in the official merger announcement.
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The February 2024 cuts came about two years after that combination. EFG connected them to ongoing integration and efficiency efforts, but its statement did not give a single global process or an exact affected headcount. The announcement describes a 2024 workforce reduction, not EFG’s workforce or restructuring status today.
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Sources
- ESL FACEIT Group, “A message from co-CEOs to EFG,” February 27, 2024
- ESL FACEIT Group, merger announcement, January 24, 2022
- Sports Business Journal, “ESL FaceIt Group to cut 15% of global workforce,” February 27, 2024
- The Esports Advocate, “ESL FACEIT Group Lays Off 15% of Global Workforce,” February 27, 2024
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