Activision to reduce headcount by around 500

While we like to imagine that all the folks working on the projects Activision canceled today will just be moved to working on even cooler games while sitting in even more comfortable chairs, the company seems set on thwarting our inner Pollyanna. During an investor's call today, the company said it will release seven percent of its workforce, tantamount to around 500 people.

There is sort of a silver lining looking at the company as a whole though according to COO and CFO Thomas Tippl, who said the company's size would level out by year's end. "We are making significant investment elsewhere," he said. "Our net head count at the end of the year is probably not going to be materially different given that we're ramping up development teams around Blizzard's new MMO and around the Call of Duty initiatives."

That is, of course, cold comfort to those being let go, so here's hoping they find gainful employment soon.

This article was originally published on Joystiq.