Roblox Corp. Lays Off 30 Talent Acquisition Employees To Reduce Company Spending
Roblox Corporation is the latest video game company to buckle under the financial problems sweeping across the industry. Despite continually rising revenues, the company’s profits continued to plummet to the point that they were spending more than they were earning.
In an effort to reduce its losses, the Roblox developer has made the unfortunate decision to lay off around 30 employees from its talent acquisition department.
“With our commitment to getting our cash compensation growth in line with our bookings growth by the end of Q1 2024, we now need a smaller talent acquisition organization to meet our adjusted hiring needs,” a company spokesperson reported. “The aggressive growth targets Roblox was operating against in the past few years required a heavier investment in our TA organization. This action is the result of the reduction in our hiring targets to better align with our growth goals.”
No other departments were affected by the layoffs.