Gamespot is undergoing layoffs from potential acquisition

Gamespot-Is-Undergoing-Layoffs-From-Potential-Acquisition

Long-time video games news outfit Gamespot is laying off some people. Multiple people have already gone out, with the Red Ventures acquisition in its midst.

Gamespot is a part of the CNET Media Group, currently owned by ViacomCBS. The company is undergoing acquisition from Red Ventures, who acquired CMG for $500 million last month. While the deal is not yet closed, it is as good as done.

With this event, reports are coming that layoffs will happen left and right. At the same time, some well-known employees are already announcing their impending removal.

Employees announce upcoming layoffs

In a tweet, branded content editor Will Fulton and social producer Ashley Oh already announced their parting ways with the company. Both creators believe the acquisition is the reason behind it.

“I’ve officially been laid off, so please do let me know if you have any job ideas,” said Fulton, who also referenced his prediction from September.

“Just got word that I am getting laid off after the RV acquisition. My last day is November 30,” said Oh in her post. “If you have any openings in writing, social media, editing, podcasting, anything, please please send tips or opportunities my way. I have nowhere to go if I lose where I live.”

The upcoming acquisition will take the entirety of the CNET Media Group to Red Ventures. This includes not only Gamespot but CNET, Metacritic, and Giant Bomb too.

On thelayoff.com, a post from two days ago says CNET Media Group will do layoffs this weekend. Furthermore, it will allegedly happen between October 9 to 13, which is Friday to Tuesday. Thelayoff.com is an anon discussion board for those looking to spill potential job cuts.

“A bunch of CNET employees and managers are talking about how ViaComCBS will be laying people off from October 9 through the 13th,” said the post. “Letters are being sent to everyone that they’re keeping. If you don’t get a letter, you’re laid off. This is everyone that’s part of the sale to Red Ventures. Involves all brands, CNET, TV Guide, Gamespot, Chowhound, ZDNet, etc.”

CMG sold at a loss

The upcoming layoffs with the CNET Media Group will be problematic. Now that the pandemic is still underway, creatives would need to find ways to weather the storm. Furthermore, the acquisition of CMG is a bad deal for ViacomCBS.

Red Ventures bought CMG from ViacomCBS for a measly $500 million last month. During its original acquisition, ViacomCBS bought the websites for $1.8 billion. More information will likely come out over the upcoming days for the potential Gamespot layoffs.

 

Featured image courtesy of Gamespot/YouTube Screenshot

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