Bahat states in the memo, "We're doing this to reduce costs. While we've been doing well -- we're profitable and our audience continues to grow -- we're still feeling the effects of the economy, and we need to make sure we can invest where there is opportunity. Over the past couple of years, we have been focusing IGN on areas where we can not only grow, but be best in the world: serving gamers online, and serving advertisers looking to reach men. To do that successfully, we have to be as efficient as possible in our core businesses. The difficult actions we're taking today get us to where we need to be."
We will continue to update this story as we learn more. If you're an IGN employee, you're of course welcome to contact us with any information you'd like to share. Find Bahat's full memo to employees after the break.
Full memo from IGN President Roy Bahat:
"Today's a hard day at IGN. We've had to reduce the size of our organization and are eliminating roles today in every part of the company. We are making every effort to be compassionate and fair to the people whose roles we've eliminated.
"We're doing this to reduce costs. While we've been doing well -- we're profitable and our audience continues to grow -- we're still feeling the effects of the economy, and we need to make sure we can invest where there is opportunity. Over the past couple of years, we have been focusing IGN on areas where we can not only grow, but be best in the world: serving gamers online, and serving advertisers looking to reach men. To do that successfully, we have to be as efficient as possible in our core businesses. The difficult actions we're taking today get us to where we need to be.
"We are losing colleagues who played an important role getting us to where we are -- #1 in games and men's lifestyle, and growing 40% over last year in the total size of our audience. We are deeply grateful to our colleagues for everything they've done. We as a company are absolutely headed in the right direction, and while today will be hard, it won't stop us.
"We'll have an All-Hands meeting later today to discuss this, and give you a chance to ask questions. Greg will be sending out a note with the exact timing, please be on the lookout for that.
"It probably goes without saying, but please keep this absolutely confidential to IGN. If you are approached by any member of the press, please direct them to Kris Sharbaugh.
"Thank you,
"Roy"
