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[Draugoth]

Embracer Group’s ongoing restructuring has resulted in the company cutting 1,400 jobs, or about 8% of its global workforce, it confirmed on Thursday.

The company announced in June that it was implementing a restructuring plan which would involve the closure of studios and the cancellation of projects.

It has since shut companies like Saints Row developer Volition and TimeSplitters studio Free Radical Design, while others have reportedly been put up for sale, such as Borderlands maker Gearbox.

Embracer has also made layoffs at Gearbox Publishing, Tomb Raider maker Crystal Dynamics, Knights of the Old Republic remake studio Beamdog, Pinball FX maker Zen Studios, and Deus Ex studio Eidos Montreal, among others.

The company confirmed on Thursday that 483 employees were let go during its third fiscal third quarter ended in December 2023.

Added to the 904 employees laid off during the previous quarter, that takes the total number of jobs cut due to its restructuring to 1,387.

via VGC

 

[winjer]

What a disaster of a company.

 

[CuteFaceJay]

I wonder what departments are taking the most cuts.

 

[balls of snow]

Never spend money you dont have.
Idiot company.

 

[Pejo]

Sympathies to those that lost their jobs.

I can't help but sit back and be impressed how they did everything almost exactly wrong, though. Buying up who they bought, churning out trashified versions of beloved IPs, they just bet wrong on so many things. Did they have a single published game that met/exceeded expectations since COVID?

 

[RickSanchez]

if karma is real, the Embracer executives/decision makers who caused this will be reborn as rats in the next life, with their human minds from this life intact so that they know they are being punished, using memories of this life to haunt them

 

[nowhat]

I think Embracer Group has grown beyong the "Extend" phase and should now be rebranded as "Extinguish Group".

 

[Hudo]

Nero has returned as CEO of Embracer.

 

[tommib]

Fire management, CFOs, CEOs, stop sacrificing the people who were not involved in your acquisition delusions. Less profit for shareholders. I can see social unrest coming in 5 years if these lay off trends continue.

 

[Robb]

Embracer Group is scum and I really feel for those getting canned because of their poor financial decisions and planning.