Embracer Group quietly cancelled 29 unannounced games and shut 7 studios within six months last year
Feb. 15, 2024This follows the company making over 1,300 workers redundant
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Embracer Group cancelled 29 unannounced games between July and December last year.
“As part of the restructuring program, Embracer still has a few larger structured divestment processes ongoing that could strengthen our balance sheet and further reduce capex,” Embracer Group CEO Lars Wingefors said earlier today. “Processes are in mature stages. It’s important to add that certain companies might initiate restructuring before any divestment is announced,” he continued.
This is all part of themassive restructuring projectEmbracer Group has undertaken over the past months, which has seen over 1,300 people lose their jobs around the world.Tomb Raider studio Crystal Dynamics has also seen cuts to its staff, and it was reported thatEmbracer had cancelled an unannounced Deus Ex gameat Eidos Montreal, as well as laying off a number of developers at the studio.
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