Embracer Group announces large-scale restructuring program including layoffs, studio closures, and game cancellations
gematsu.comEmbracer Group has announced a large-scale restructuring program focused on cost savings, capital allocation, efficiency, and consolidation, which will include staff layoffs, studio closures or divestments, and game project cancellations or suspensions.
The restructuring program is divided into different phases until March 2024. The initial phase, which has already begun, mainly targets cost savings across the group. The next phase, which has also begun, still requires further analysis to determine specific actions. The final phase will focus on internal consolidation, further resource utilization, and increased synergy within Embracer Group.
Actions will cover, but are not limited to:
Here is the full open letter from Embracer Group CEO Lars Wingefors:
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