Embracer Group announces 4532 employee reduction, 44 studio closures, and plans to split into three public entities with 70 game releases by 2025.
Embracer Group, a major video game company, has announced a 4532-employee reduction and closure of 44 studios as a result of restructuring efforts. Despite the layoffs, net sales increased by 12%, reaching $3.9bn. The company plans to split into three publicly-listed entities and release over 70 games by March 2025. CEO Lars Wingefors stated that the restructuring has established a stronger foundation for future profitability and long-term value creation.
May 23, 2024
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