Embracer Group Announces Studio Closings and Cancellations

The Swedish giant announces a restructuring that will result in the closure of studios and cancellations of video games

This type of news is not usual for Embracer Group. And it is that the owner of THQ Nordic or Crystal Dynamics is known to buy studios and IP addresses. But this time it’s not good news. And it is that after not concluding a multi-million dollar contract and the poor performance of some titles like Saints Row, Embracer Group has announced an internal restructuring that results in studio closures, layoffs and cancellations of unannounced games

. Crystal Dynamics, which is currently developing Perfect Dark with The Initiative or the new Tomb Raider with Amazon Games, released a statement indicating that neither the studio nor its projects are in jeopardy:

In the Embracer Group statement, it is stated that the reason for this decision is to save money, due to the high cost and effectiveness of its products. For the moment, we have no information on the studios that will be affected by this restructuring.

. We should be alert for more information in the coming days or hours. Embracer CEO Lars Wingefors is shocked by the news. “It’s painful to see talented members leave the team. Our people are what builds Embracer. I understand and respect that many are preoccupied with their work and I don’t have all the answers to the questions. I want to make it clear that the decisions in this plan are not taken lightly,” he said in the statement.

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