On February 27, 2024, ESL FACEIT Group (EFG) said it planned to reduce its team by roughly 15%, describing the change as part of its effort to adapt to a fast-changing market and support sustainable growth and profitability. The company did not disclose an exact number of affected employees.
What EFG announced
In a statement from co-CEOs Craig Levine and Niccolo Maisto, EFG said it was planning to reduce its workforce by roughly 15%. The executives wrote that the move was intended to help the company evolve in a fast-paced market and support its “sustainable growth ambitions and profitability.” EFG’s February 27, 2024 statement also described the changes as part of continuing to integrate its businesses and teams, find efficiencies, and simplify the organization. Those are the company’s stated reasons, not independently verified causes.
How many employees were affected?
EFG’s announcement gave an approximate percentage, not a confirmed headcount. Sports Business Journal described the cuts as affecting the global workforce, while The Esports Advocate reported that sources estimated 250–300 roles. That range was a reported estimate, not a total confirmed by EFG. Sports Business Journal’s report and The Esports Advocate’s report both date to February 27, 2024.
What support did the company describe?
EFG said employment procedures would vary by country because local laws and consultation requirements differ. It also said it would provide global financial support in addition to locally required considerations, and that affected employees could keep their laptop and mobile phone. The announcement did not set out one global process or specify how the support would work in each location.
The Tool Desk
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How the cuts followed the ESL–FACEIT merger
On January 24, 2022, Savvy Games Group announced that ESL and FACEIT would join under ESL FACEIT Group, with Savvy as the new owner. The announcement said Savvy was fully owned by Saudi Arabia’s Public Investment Fund. EFG’s merger announcement did not state a $1.5 billion valuation. That figure was reported by Sports Business Journal in 2024 as the acquisition valuation, rather than announced in the official merger release.
Quick Recap
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