Embracer Group is making some drastic-sounding changes.
Layoffs, studio closures, and game cancellations are coming as part of this.
Embracer said itonly had a verbal agreement for this deal, but it was still a major loss.
What role the loss of this deal had on the restructuring plan is unknown, hosaodver.
CEO Lars Wingefors made the announcement in a memo shared with staff andposted on the company’s website.
That period of massive, accelerated growth is now over.
To get there, Embracer is cutting jobs, cancelling games, and closing studios.
However, Wingefors did not say how many jobs would be impacted.
“It is painful to see talented team members leave.
Our people are what make up the very fabric of Embracer.
“I want to be clear that the decisions about this program were not taken lightly.”
Wingefors said, where possible, affected staffers might have the opportunity to transition to other projects within Embracer.
He also stated that Embracer will “continue to hire” in certain aspects of the business.
Games that have already been announced will, in general, be seen through to release.
Additionally, Embracer will decrease spending on non-development costs and reduce third-party publishing.
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