29 unannounced initiatives have been cancelled by Embracer Group between July — December 2023, the corporate has revealed.
The information comes following affirmation from the publishing powerhouse that it has let go of 1,387 employees because it started its restructuring program in June final yr. It has additionally warned that extra jobs may very well be at dangers because the initiative enters its closing stretch.
Embracer Group had 153 unannounced initiatives within the pipeline through the first monetary quarter ended June 2023, which fell to 138 throughout its second quarter and 124 by the point its third quarter wrapped in December final yr.
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A lot of improvement studios have been shuttered on account of the restructuring plans, together with Saints Row creator Volition and TimeSplitters’ Free Radical Design. The video video games business on a complete has suffered an enormous quantity of job losses previously yr or so, and it doesn’t seem like it’s going to cease anytime quickly, both.
[Source – VGC]