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In recent years, Swedish Embracer Group It has grown into one of the largest companies in the world of video games. The comprehensive group includes the publishing divisions Plaion and THQ as well as many brands and development studios. In 2022 in particular, Embracer has made a name for itself with large-scale investments and acquisitions. So the company acquired Western division of Square Enix publisher as well as Video game license to the Lord of the Rings universe.
The growth trajectory now appears to be on hold for the time being. In a statement, the Swedish parent company has now announced a comprehensive restructuring programme Studio closures and layoffs comes with. The investment is set to be reduced by SEK 2.9 billion in the current financial year to March 2024, which equates to a total of approximately €250 million. Savings must also be made in the company’s inventory by consolidating business operations and canceling projects deemed less profitable.
Embracer Group’s announcement does not indicate which studios will be affected by the cuts. Reports of specific cost-cutting measures are sure to follow in the coming months.
How would you rate the development of the Embracer Group? In your opinion, which studios and projects might be affected by the cuts?
reference: Embracer Group
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