Last week, California’s Department of Fair Employment and Housing sued Activision, detailing accusations of sexual harassment and assault, as well as a culture in which women faced unequal pay and retaliation. The employees are protesting the company’s responses to the sexual discrimination lawsuit and are demanding more equitable treatment for underrepresented workers.
On Tuesday, Kotick sent an all-staff letter in response to the walkout, calling the company’s recent actions “tone deaf.” In the CEO’s email, he said the company hired the law firm WilmerHale to conduct a review of its polices and promised “swift action” to stamp out harassment.
Employees responded with their own letter, saying Kotick failed to address concerns about employment contracts containing forced arbitration clauses and a lack of pay transparency.
“We know there are a variety of topics that need to be considered,” a spokesman for Activision wrote in an emailed statement Wednesday. “The leadership team at Activision Blizzard is also committed to long-lasting change, listening and continuing the important work to create a safe and inclusive workplace that we can all be proud of.”
Activision shares were up 1.3% Wednesday afternoon, along with the Nasdaq. They were down 9.5% this year through Tuesday.
It’s been a turbulent year for Activision and Kotick. Earlier this summer, a number of shareholder groups claimed that Kotick is overpaid, but the company still gained shareholder approval of its executives’ compensation. The company is set to report financial results next Tuesday.
A prolonged dispute with employees could result in delays of Activision games, wrote Matthew Kanterman, an analyst for Bloomberg Intelligence.
If managed properly, Activision should be able to minimize damage to its business, said David Cole, an analyst at DFC Intelligence. However, Cole adds, the whole ordeal may end up earning Activision a place on consumer lists of “most hated companies.”
—Bloomberg News
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