Activision-Blizzard share value drops 9% prompting response from Kotick
By Aron Gerencser July 28, 2021
The on-going outcry surrounding a sexual harassment lawsuit filed against Activision Blizzard and the company's official response has resulted in development on World of Warcraft stalling and employees organizing a walkout.
The latter has cause company shares to drop 9%, which was followed by the first official response from CEO Bobby Kotick.
In his carefully manicured letter, Kotick claims that the company will be making some sweeping changes including to personnel, the introduction of employee support and listening sessions and altered hiring practices.
Kotick has hired law firm WilmerHale to review company policies and conduct, and he encourages employees to approach WilmerHale with any relevant information and experiences related to harassment.
Other than this, the other "pledges" are vague and ring hollow in no small part thanks to the legal disclaimer at the end of the letter giving Kotick an easy out.
Previously Kotick has come under fire for receiving multi-million dollar bonuses not long after a huge chunk of Activision Blizzard's employees were let go as a result of office closures.
The noncommittal language used by Kotick combined with the disclaimer makes this letter amount to too little too late.
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