Motorsport Games to Lay off Staff

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News/Motorsport Games to Lay off Staff







Motorsport Games to Lay off Staff
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.

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About the author

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Dante Uzel
Esports & Gaming Journalist
Dante Uzel is an esports and gaming news journalist with eight years covering the industry. His work has appeared in publications including Game Life and The Game Post, and he currently reports for TwogNews and TwogPedia.