Nintendo (OTCMKTS:NTDOY) layoffs are coming for contractors who work in product testing for Nintendo of America.
The Nintendo of America layoffs come as the company reorganizes its Product Testing division. It’s doing so to better align Nintendo of America’s model with its interregional procedures.
According to recent reports, as many as 100 contractors may be affected by the Nintendo layoffs. However, the video game company also confirmed that some of its contractors will be transitioning into full-time employee positions.
Contractors who aren’t being offered full-time roles are still getting support from Nintendo of America. That includes severance packages and other assistance.
Nintendo Joins Video Game Layoffs
Nintendo is nowhere close to being the only video game company that has announced layoffs recently. There have been several layoffs throughout 2024 that have affected many game developers.
Layoffs have also affected major hardware makers as well. Nintendo, Sony’s (NYSE:SONY) PlayStation and Microsoft’s (NASDAQ:MSFT) Xbox have all cut jobs recently.
In Nintendo’s case, these cuts may be connected to reported delays for its Switch 2 video game console. Current estimates have the company releasing the Switch 2 sometime in 2025.
NTDOY stock is down slightly as of Thursday morning.
Investors looking for all of the latest stock market stories are in luck!
We have all of the hottest stock market news worth reading about on Thursday! Among that is what’s happening with shares of QuantumScape (NYSE:QS), MicroStrategy (NASDAQ:MSTR) and GCT Semiconductor (NYSE:GCTS) stock today. All of that news is ready to go down below!
More Thursday Stock Market News
- QS Stock Charges Up as QuantumScape Delivers on 2024 Goals
- Kerrisdale Capital Slams MicroStrategy (MSTR) Stock in New Short Report
- GCTS Stock: GCT Semiconductor Pops Nearly 600% in First Trading Day
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
