Workers call Activision's $18M settlement plan a "slap in the face"

A group of tech and gaming workers have slammed Activision Blizzard's planned settlement with the U.S. Equal Employment Opportunity Commission, saying an $18 million compensation fund for employees who were harassed or discriminated against is not enough.

Why it matters: The statement from the Campaign to Organize Digital Employees (CODE) came a day after Activision announced its plans in a press release.

What they're saying: "$18M is a slap in the face to workers considering @ATVI_AB is worth $72BILLION & workers dealt with toxic working conditions for yrs," the group stated.

• CODE's partner union, the Communication Workers of America, added: "The EEOC has sent a message that corporate bad actors will not be held accountable for their abuse of workers."
• The CWA is urging the SEC, National Labor Relations Board and the state of California, which are all also scrutinizing Activision Blizzard, to take a harder line.
• Asked about negative reactions to the size of the fund, an Activision rep told Axios: "We agreed on $18 million with the EEOC, who is expert in this area." The company encourages impacted workers to submit claims. (The EEOC has previously declined to comment on the settlement.) 

Of note: In a report to investors today about Activision's potential future earnings, a financial analyst at Jeffries said that the "recent settlement with the EEOC gives us comfort monetary damages will remain immaterial and worst-case scenarios are off the table."