Embracer Group has undergone significant restructuring since March 2023, resulting in the loss of 1,383 jobs, which is approximately 8% of its workforce, and the cancellation of 42 game projects. The company's headcount decreased from 16,601 in March 2023 to 15,218 in December 2023. Despite these cutbacks, Embracer's net sales saw a 4% increase in Q3, reaching an all-time high of $1.2 billion. The company has also warned of potential further layoffs and has been focusing on maximizing shareholder value. Additionally, Embracer confirmed the cancellation of 29 unannounced games during a six-month period last year and has plans in the 'mature stages' to sell off studios, including Gearbox, Plaion, THQ, Saber, CDE, and Coffee Stain. This restructuring has led to a $166 million net loss and 22 game write-downs, with a focus on developing its own intellectual properties. Over six months, 1,400 staff were laid off, and 45 unfinished games scrapped.
Embracer has cut 1,400+ jobs since June 2023 and scrapped 45 unfinished games, but claims restructuring is approaching its "final stretch" https://t.co/ExHvUxYKYj
What's happening at Embracer: $166 million net loss, 22 game write-downs, 1,387 layoffs, and focus on own IPs https://t.co/UZ60O9qOk1 #gamedev #gamedevelopment #indiedev
Embracer reveals it laid off around 1,400 people in 6 months last year, but don't be a bellyacher—this is all about 'maximising shareholder value' https://t.co/DFTKBdk5NT
Embracer Warns of More Layoffs Despite Already Letting Go 1,387 Staff https://t.co/XQUcATT7CC https://t.co/28rwaTN80V
Embracer says it's looking out for shareholders after cutting almost 1,400 jobs https://t.co/6eM4zHeczq https://t.co/O0E77qFcmI
Embracer Canceled 29 Games And Laid Off 1,400 People In Just The Last Six Month https://t.co/f4bxcn3V8W https://t.co/A7XaPlS5e9
Embracer's 4% net sales growth led to an all-time Q3 high of $1.2 billion, but 1,400 staff have been laid off over six months https://t.co/pugWulLAiM https://t.co/8W9UTnVFfZ
Embracer Group quietly cancelled 29 unannounced games and shut 7 studios within six months last year https://t.co/MmSpM5aX91
Embracer Group and its companies laid off about 8 percent of its staff to date. (These aren't new lay offs). They also said that plans to sell off studios are in the "mature stages." I think most likely include: Gearbox, Plaion, THQ, Saber, CDE, Coffee Stain
Embracer has warned of further layoffs despite letting go of 1,387 staff since June. https://t.co/ys9ZQU8VpF https://t.co/Aiq7RYvKBG
Embracer Group cancelled 29 unannounced games during a six-month period last year, the company confirmed today. https://t.co/6QQqxWn8A1 https://t.co/8T4r6N5Uvj
Embracer has now laid off 8% of staff https://t.co/cTbXpyohPB https://t.co/jgwVnJyPU5
Embracer laid off 1,383 employees and canceled 42 games in less than a year. However, its net sales increased by 4% in Q3. Read the report: https://t.co/LBgOftSgAp #Embracer #layoffs #games #gamenews #videogames https://t.co/A8C9mvZhsz
Embracer Group’s ongoing restructuring plan has resulted in the company cutting almost 1,400 jobs, or about 8% of its global workforce, and it said on Thursday that more layoffs could be coming. https://t.co/bfLAmY6loU https://t.co/6ZEDGfwkBZ
Embracer says it's looking out for shareholders after cutting almost 1,400 jobs "Our overruling principle is to always maximize shareholder value in any given situation" https://t.co/6eM4zHdEJS https://t.co/6caE3pKkYa
NEW: Embracer says it has cut 8% of its workforce since is restructuring program began in March 2023 Headcount: - March 2023: 16,601 - Dec 2023: 15,218 That's 1,383 jobs gone. Total number of game projects: - March 2023: 221 - Dec. 2023: 179 42 fewer projects