Approximately 45 employees at Toronto’s Enthusiast Gaming face layoffs as the company undergoes restructuring. The gaming and esports media firm announced office closures and a focus on advertising technology efficiencies, including in-house production and content resources, in a recent press release.
These changes aim to offset declining online ad revenues, the company’s primary income source. This setback follows a tumultuous period of leadership changes, initiated by an activist investor campaign in 2022. Ex-CEO Adrian Montgomery was replaced by Nick Brien, who resigned within a year, leading to Montgomery’s temporary return. Amidst this instability, the company’s stock fell 18% in intraday trading, closing 4% lower Friday.
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