An Unexpected Company Now Announces Layoffs in Texas

An unexpected company now announces layoffs in Texas according to a WARN (Worker Adjustment and Retraining Notification) notice.

The impacts of Microsoft’s major restructuring of its gaming division are being felt in Austin.

Arkane Studios, the video game developer behind popular titles like Dishonored and Deathloop, will lay off a total of 96 employees at its Austin office in July.

Arkane management broke the news to employees in an internal memo on Tuesday morning.

Arkane established its Austin game development studio back in 2006. It has been a key player in Microsoft’s gaming business, creating critically acclaimed games like the Dishonored series, Prey, and the recent Redfall, which received lukewarm reviews despite high anticipation.

The mass layoff is part of Microsoft’s move to consolidate after making multi-billion dollar acquisitions like Activision Blizzard.

The tech giant is slashing costs across multiple divisions, with gaming a focus as the industry contracts amid economic pressures.

For nearly 100 Austin game developers, the cuts mean an abrupt career disruption at one of the region’s most prominent studios.

Layoffs in Texas 2024
Layoffs in Texas 2024.

Other businesses laying off in Texas include:

  • Soil Organic, Inc. 61 job cuts by 9/13.
  • Joyson Safety Systems. 108 job cuts by 6/1.
  • Kohl’s Corporation. 93 job cuts by 6/14.
  • Nosco, Inc. 51 job cuts by 6/2.
  • Davies UC LLC. 3 job cuts by 5/26.
  • Kroger Fulfillment Network LLC-Austin. 52 job cuts by 5/25.
  • Rooster Teeth Productions, LLC II. 6 job cuts by 6/8.
  • Signify North America Corporation – Genlyte Thomas LLC. 109 job cuts by 5/16.
  • Stanley Black & Decker. 127 job cuts by 5/10.

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Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois

Other Economy News Today

Market News Today - An Unexpected Company Now Announces Layoffs in Texas.
Market News Today – An Unexpected Company Now Announces Layoffs in Texas.

A massive clothing retailer is now closing all 540 stores in just six weeks after unexpectedly filing for bankruptcy.

Liquidation sales will be held at rue21 outlets across the US as bosses rush to clear the last remaining stock.

The clothing retailer has entered bankruptcy and bosses have announced plans to close all 540 remaining stores within six weeks, reports The US Sun.

It is the third time in less than 25 years the fashion retailer has entered bankruptcy, per Bloomberg.

Court documents seen by Reuters revealed the company has more than $190 million of debt.

The chain has 540 stores across the US and 4,900 workers are set to be impacted.

Outlets are to slam shut within four to six weeks, according to court papers.

Bosses also announced plans to sell the company’s intellectual property.

The company narrowly avoided going into bankruptcy in October 2022.

Chiefs filed for bankruptcy in 2017 as they rushed to clear around $700 million worth of debt.

Bosses shuttered 400 stores as well and renegotiated leases.

Execs identified the rise of online shopping and changing consumer trends as reasons behind the bankruptcy.

Michele Pascoe, the interim CEO, also alluded to the impacts of competition and inflation.

The company also filed for bankruptcy in 2002.

At its peak, the company had more than 1,000 stores across the US.

The chain has dozens of outlets across several states, including Florida, Georgia, Illinois, North Carolina, Pennsylvania and Texas.

The teen fashion retailer is not the only clothing chain that has entered bankruptcy over the past year.

Last month, Express chiefs filed for bankruptcy, and at least 100 stores are set to close.

Also Read: Retirees Will Now Receive More Money For Social Security

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Market News Today - An Unexpected Company Now Announces Layoffs in Texas.
Market News Today – An Unexpected Company Now Announces Layoffs in Texas.

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