Ubisoft is facing financial problems. She canceled three games and started layoffs

On January 11, Ubisoft released a report in which it spoke about the difficult financial situation. The French company said that the sales of new products did not meet expectations, because of poor macroeconomic conditions and changes in the gaming industry. Against this background, Ubisoft decided to make several adjustments to its plans.

▪️Ubisoft canceled three unannounced games and postponed the release of Skull & Bones to the beginning of the next fiscal year (it starts in April 2023).

The company intends to reduce costs by €200 million over two years due to restructuring, abandoning a number of non-core assets and staff reduction.

▪️Ubisoft has lowered its financial forecast for the current year: it expects net revenues to fall by 10% year-on-year (previously, growth of 10% was forecast).

Later, three Ubisoft employees, in an interview with Kotaku, reported that the publisher started firing people last fall and began to renew contracts less often. A representative of Ubisoft in response indicated that 27 positions have now been eliminated in the company.