Embracer Group’s Lost Boys Interactive Hit with Another Round of Layoffs
The Embracer Group has gone through a massively turbulent period over the last couple of years, not only seeing sales and closures of studios, but also an eye-watering number of layoffs and job cuts. Now, another studio under the company’s ownership has been hit with a round of layoffs- and not even for the first time this year.
Lost Boys Interactive, a support studio that has worked on titles such as Tiny Tina’s Wonderlands and Diablo 4, recently took to LinkedIn to announce a reduction in staff. Specific details on how many jobs are being cut as part of this fresh round of layoffs weren’t shared, and attributes the need for the job cuts to “shifting market conditions within the video game industry” have “required us to reassess our operations to align with the evolving needs of our business and our partners”.
“Today is a challenging day for Lost Boys Interactive as we face the difficult decision to reduce our workforce,” said Shaun Nivens, CEO of Lost Boys Interactive. “We recognize the impact of this decision on our team members, who have contributed greatly to our success. Decisions involving staff reductions are never made lightly, and this action was taken only after considering all other options. We are committed to supporting them in every way we can during this transition.”
Lost Boys Interactive has also said in its statement that its ongoing work on current co-development project remains unimpacted, and that the studio will “continue to seek additional development opportunities moving forward.”
Lost Boys Interactive was hit with another round of job cuts earlier in the year, in January. Prior to these two rounds of layoffs, the studio’s headcount numbered at 400, while currently it employs over 200 people.
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