Frontier Developments will lay off some of its staff
The British publisher and developer Frontier Developments is going to reduce its staff. The company decided to reconsider its business strategy due to financial problems and the difficult situation in the gaming industry.
It is unknown how many people will be fired. According to the latest financial report, as of the end of May 2023, Frontier Developments had 839 employees.
Frontier Developments explained that it wants to focus on its strengths. She expects that due to the change in business strategy, her efficiency will increase, and annual operating costs will decrease by 20%. The company is currently conducting an organizational audit, which will be completed in early 2024.
Since January 2023, Frontier Developments shares have fallen by 75.9%. The biggest drop was on January 9th after the company reported disappointing sales of the F1 Manager 2022 racing simulator. Then the value of its shares collapsed by 42% in a day.
