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Activision Blizzard stock falls after news of layoffs

Annlee Ellingson
Activision Blizzard stock falls after news of layoffs

Shares in Activision Blizzard Inc. sank as much as 7 percent in trading on Monday after news that the Santa Monica, California-based video-game giant is planning significant job cuts. Activision Blizzard (NASDAQ: ATVI) had 9,800 employees at the end of 2017 — the most recent figure available. The move comes amid slower sales at Activision Blizzard, home of such games as “Call of Duty,” “Overwatch” and “Candy Crush.” Analysts have forecast the company’s sales to decline by about 2 percent to $7.28 billion this year.