In new paperwork filed with the United States Securities and Exchange Commission, Activision Blizzard has warned investors that restructuring may have "negative consequences" on the business and that "there can be no assurance that our business will be more efficient or effective than prior to implementation of the plan".
Key thoughts from the SEC filing:
- Blizzard may not be able to "realize the expected financial and operational benefits" of the restructuring plan
- cuts could have a negative impact on business
- "the actual savings and timing for those savings may vary materially based on factors such as local labor regulations, negotiations with third parties and operational requirements, some of which are beyond our control"
- Blizzard is concerned about the cost of implementing the plan and that it could be "disruptive to our business or have other negative consequences"
- Blizzard believes there may be "attrition beyond our planned reduction in workforce or negative impacts on employee morale and productivity"
- The company warns that the above could impact "our ability to attract and retain highly skilled employees"
- Blizzard isn't ruling out the possibility of another restructuring plan