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Embracer Group, the publisher of Persona 5, has raised salaries amid industry-wide layoffs. The company confirmed the layoffs of approximately 900 employees during its second quarter, attributing it to its intensive restructuring program. The layoffs impacted 5% of its workforce, with 36 fewer games in development than in the previous year. Similarly, Humble Games has laid off an unspecified number of employees as part of a restructure for long-term success. Schonfeld has dismissed 15% of its workforce after ending partnership talks with Millennium Management, aiming to cut costs. The hedge fund has written down 15 projects, with further studio closures and buyouts planned. These actions come amidst a 13% increase in Embracer's net sales in Q2, amounting to approximately $1 billion. The company's restructuring program is designed to turn it into a highly cash flow generative business.
Embracer has laid off 5% of its workforce since its $2 billion mystery deal crumbled to dust. https://t.co/Ux5nGCWSZP
Embracer Group laid off 900 people during the last three months after actioning a restructuring program designed to turn the company into a "highly cash flow generative business." https://t.co/zlL3L4MOeV https://t.co/kr2t7L1B6k
Humble Games lays off "valued colleagues" as restructuring begins https://t.co/QEzsxlgdoL https://t.co/yeYvGknCCa
Hedge fund Schonfeld to cut 15% of jobs after ending Millennium talks https://t.co/dF8SeqOp2C
Embracer has laid off 5% of its workforce since its $2 billion mystery deal crumbled to dust. https://t.co/BwkesIbMsM
In an update on its restructuring plans, Embracer Group said on Thursday that it has written down 15 projects, while further studio closures and buyouts are planned. https://t.co/ejeHmGgfFN https://t.co/VhRRYGewnU
BREAKING: Schonfeld dismisses 15% of its workforce to cut costs after scrapping deal talks with Izzy Englander’s Millennium Management earlier this week https://t.co/ieeZClAtCA https://t.co/BjNyldzzg3
Embracer confirms 900 employees laid off in previous financial quarter https://t.co/bU3S0PzA3O https://t.co/586OfRi6w8
Schonfeld dismissed 15% of its workforce to cut costs after scrapping deal talks with Izzy Englander’s Millennium Management earlier this week https://t.co/wQ0OUJUwOa
Schonfeld dismissed 15% of its workforce to cut costs after scrapping deal talks with Izzy Englander’s Millennium Management earlier this week https://t.co/7uRxG0cVIZ
Embracer reports Q2 net sales up 13% YoY to ~$1B, layoffs impacted 900 employees, or 5% of its workforce, and 36 fewer games are in development than Q2 2022 (@kjyossman / Variety) https://t.co/oHq3i7sbMC 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/af4QL6Hfiu
Embracer confirms 900 layoffs following net sales upswing The Swedish conglomerate indicated it will continue making layoffs despite quarterly net sales rising by 13 percent to $170.5 million https://t.co/zlL3L4MOeV https://t.co/ZDJTO8ce7y
80Level: Humble Games has recently confirmed employee layoffs but has chosen not to disclose the number of people affected. More: https://t.co/ewd1FnYcvV #games #videogames #gameindustry #layoffs https://t.co/DUL2l1h6k4
80Level: Embracer reports a 13% increase in net sales in Q2, attributing it to its intensive restructuring program, and confirms the layoffs of approximately 900 employees. Details: https://t.co/Mx2RzDgdHS #games #videogames #gameindustry #layoffs https://t.co/8snwkM7HCl
Humble Games has laid off an unspecified number of employees: "We have experienced trends that required this restructure in order to ensure our long-term success." https://t.co/WLR7SfrFIa
Embracer Group has confirmed that its ongoing restructuring resulted in 900 employees being let go during its second quarter ended in September. https://t.co/OHJGOCXOye https://t.co/NGKfkRtiPe
Schonfeld Ends Millennium Partnership Talks, Secures Billions Elsewhere #hedgefunds @business https://t.co/zaYxpiv7Yy
Persona 5 Publisher Raises Salaries Amid Industry-Wide Layoffs https://t.co/A1coXGSHLh https://t.co/hm6IG71fn0