Joystiq isn’t Shutting Down…Sort of

Earlier this week we all heard the sad news that Joystiq will be shutting down. Now we’ve heard slightly better news. Joystiq will still exist, but they’ll be merged along with Engadget. The merger is AOL looking to cut cost and bring in a profit. In order to do so there will unfortunately be layoffs. It’s reported that there will probably be 150 layoffs in total mostly concentrated in sales.

So Joystiq will still be around — albeit in a different capacity as a sub-site to Engadget. Best wishes to all of those who will unfortunately be laid off.

“As we look out to 2015, our strategy and decisions will be driven by the following organizing principles,” said CEO Tim Armstrong. “Number one, we’ll focus our capital allocation resource management and management time against scaled assets and platforms. Two, we will organize our asset portfolio around scaled value and scaled growth assets. Three, we’ll simplify everything that can be simplified.”