The gaming industry has been rocked by massive waves of layoffs in recent months. Many employees had to leave, especially at the Embracer Group.
The numerous layoffs in recent months have shaken the entire entertainment industry and many fear that peace will not come any time soon. The layoffs at Embracer Group were particularly severe, as a current quarterly report shows.
This shows that the Embracer Group has so far laid off around 8 percent of its workforce as part of a restructuring. Translated into absolute numbers, this means that 1,387 jobs were eliminated. In November 2023 there were still around 900, which means that almost 500 jobs were cut between November and today alone.
What is particularly drastic about the situation is that the quarter ended December 31, 2023 was the most profitable to date for the Embracer Group. CEO Lars Wingefors explained that the restructuring program is now well advanced, although there is still some restructuring to be done. They are currently on the home stretch, but further layoffs could follow in the coming months, as the top priority is to maximize the value for the shareholders. This also happens through sales, for example.
Nothing is certain yet, but the rumor mill is abuzz that the Embracer Group may be selling Gearbox Entertainment and is already looking for suitable buyers. The Borderlands studio might still be lucky with a sale. Others, such as Volition and Free Radical Design, were closed, while Fishlabs, Crystal Dynamics, 3D Realms and others were also affected by massive job cuts.
= Partner & affiliate links: Possible offers listed are usually provided with so-called affiliate links. By purchasing through one of these links you support Xboxdynasty. We receive a small commission from the provider without affecting the price and can offer this website free of charge to you.
