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Activision Blizzard reports a record quarter amid growing wage dispute

Added 08-04-20 06:09:04pm EST - “Employees say they're struggling to make ends meet while Activision Blizzard CEO Bobby Kotick makes millions.” - Engadget.com

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Posted By TheNewsCommenter: From Engadget.com: “Activision Blizzard reports a record quarter amid growing wage dispute”. Below is an excerpt from the article.

Activision Blizzard reported another quarter of record-setting financial results, with each of its core franchises delivering better-than-expected returns, including Call of Duty, World of Warcraft, Hearthstone, Overwatch and Candy Crush. Activision had 125 million monthly active users in the second quarter, while Blizzard had 32 million, and the company overall reported GAAP net revenues of $1.93 billion, up from $1.4 billion in 2019. Growth across the company’s games was spurred by shelter-in-place orders amid the global pandemic.

Activision Blizzard is facing growing pressure from employees and stockholders to address wage disparities at the company. CEO Bobby Kotick pulled in $40 million in compensation last year, while Blizzard employees such as testers and customer service representatives report struggling to meet basic needs, according to Bloomberg.

In the company’s Q2 2020 financial report, CEO Bobby Kotick said, “Our record engagement resulted in greater revenue and earnings per share than previously forecast.”

Executives have used the word “record” to describe other positive periods in the company’s financial operations. Like in February 2019, when Kotick called the previous year “the best in our history,” even as Activision Blizzard was laying off 800 employees, mainly in non-development and non-senior roles. In the wake of these layoffs, remaining employees did not receive additional pay for the extra work that fell to them, Bloomberg reported.

An internal Blizzard survey in 2019 found that more than 50 percent of employees were unhappy with their pay. On Friday, Blizzard employees circulated a spreadsheet to anonymously track and compare salaries and recent pay bumps, Bloomberg reported.

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