Embracer’s headcount has plummeted by 4532 employees over the past financial year, while 44 studios have been closed and 80 in-development projects have been dropped during this period.
This news comes as part of Embracer’s latest quarterly financial report, in which CEO Lars Wingefors states the company’s restructuring programme is now “successfully finalised” and has “created a stronger foundation for improved profitability, cash flows and long-term value creation”.
The restructuring programme began in June last year following the Swedish umbrella company’s acquisition of a number of studios, many of which have now been divested and staff laid off. A key reason for this was the collapse of a proposed $2bn partnership with Saudi Arabia’s Savvy Games.
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