Playtika Holding Corp. (PLTK) Embarks on Cost Cuts Amid AI Automation Focus

Playtika Holding Corp. (NASDAQ:PLTK) is one of the best cheap stocks that will skyrocket. On January 13, Playtika Holding Corp. (NASDAQ:PLTK) announced a cost-cutting drive as it transitions from working in large teams to leaner teams that rely on artificial intelligence and automation.

Playtika Holding Corp. (PLTK) Embarks on Cost Cuts amid AI Automation Focus

Consequently, the company is to lay off 15% of its workforce, affecting about 500 employees. The company is expected to incur aggregate costs of about $12 million to $15 million, including severance payments, notice period payments in applicable jurisdictions, employee benefits, and related expenses. Playtika plans to invest the cost savings from the job cuts to advance growth initiatives.

The cuts come as the Israeli-founded online game developer undergoes a fundamental shift in its operations to strengthen its competitive edge in the mobile games market. As part of the new strategy, it plans to leverage AI to drive optimization, personalization, and efficiency.

“For years, we operated with a broad growth mindset, applying similar resourcing models across our portfolio of games. The economic reality of our industry has shifted. We are moving away from headcount-heavy operations to streamlined teams powered by AI and automation,” said co-founder and CEO Robert Antokol.

Playtika Holding Corp. (NASDAQ:PLTK) is a developer and publisher of free-to-play mobile games, known for titles such as Slotomania, Bingo Blitz, and June’s Journey. The company primarily generates revenue through in-app purchases of virtual items and digital currency within its games.

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Disclosure: None. This article is originally published at Insider Monkey.