Motorsport Games to Lay off Staff

Business

06 November 2023 15:05

Motorsport Games, the developer behind Nascar Rivals, recently initiated a round of layoffs, resulting in the reduction of around 38 positions, primarily impacting staff in the United Kingdom and Australia. This decision was made by the Miami-based studio as part of its efforts to reduce year-over-year operating expenses, as disclosed in a Securities and Exchange Commission (SEC) filing on October 29.

The company's restructuring program is expected to incur costs in the range of $400,000 to $500,000, which will cover severance and redundancy payments to affected employees. The majority of these expenses are slated to be disbursed during the fourth quarter of its fiscal year 2023.

Tags: Motorsport Games

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Motorsport Games to Lay off Staff

Business

06 November 2023 15:05

Tags: Motorsport Games

Motorsport Games, the developer behind Nascar Rivals, recently initiated a round of layoffs, resulting in the reduction of around 38 positions, primarily impacting staff in the United Kingdom and Australia. This decision was made by the Miami-based studio as part of its efforts to reduce year-over-year operating expenses, as disclosed in a Securities and Exchange Commission (SEC) filing on October 29.

The company's restructuring program is expected to incur costs in the range of $400,000 to $500,000, which will cover severance and redundancy payments to affected employees. The majority of these expenses are slated to be disbursed during the fourth quarter of its fiscal year 2023.

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