Thunderful Group will lay off half of Coatsink's employees
Another Swedish holding company has announced reorganization plans. This time it is Thunderful Group, which has decided to restructure the Coatsink studio.
Men in Black: Most Wanted
In a statement to investors, Thunderful Group explained that Coatsink has recently finished work on several large third-party projects and as a result can no longer provide work for all its employees. Additionally, the gaming industry is still experiencing a crisis. Although Coatsink has already secured new co-development contracts, it nevertheless needs to make changes to its structure.
Thunderful Group plans to lay off 50-60 Coatsink employees in total, which accounts for about half of the studio's staff.
Thunderful Group hopes that the restructuring at Coatsink will significantly reduce its expenses next year — by 25-30 million Swedish kronor (2.6-3.1 million dollars).
Coatsink was founded in 2009. While the studio currently actively assists other companies in developing their titles, it also creates its own games. For example, its portfolio includes games like Esper, Astronimo, Men in Black: Most Wanted, and Jurassic World Aftermath.