Embracer Group to get rid of several studios and layoffs
The Swedish Embracer Group has decided to restructure. As part of it, the company will close or sell a number of studios. Which ones are not specified.
Embracer Group attributed the restructuring to problems in the global economy, which forced it to reduce costs and optimize resources. According to the plan, the procedure should be completed by March 31, 2024.
In addition to closing the studios, Embracer Group intends to:
▪️Publish third-party games less often and focus on projects from internal studios;
▪️Cancel several games or suspend their development;
▪️actively attract investments for big-budget games;
▪️Reduce non-development costs;
▪️dismiss or transfer some employees to other projects. Now the company employs 17 thousand people.
