Embracer Group to shutdown certain studios and cancel games

[subcon959]

Well, it seems after their recent spending spree and acquisitions, Embracer Group have realised the next best move is to close studios, lay off staff and cancel ongoing game development. Makes sense. Here are some snippets from the CEO's open letter..

This morning we announced a restructuring program across the Embracer Group that will make us a leaner, stronger and a more focused, self-sufficient company.

Embracer currently engages close to 17,000 people and while that number will be lower by the end of the year, it is too early to give an exact forecast on this.

The actions will include, but not be limited to, closing or divestments of some studios and the termination or pausing of some ongoing game development projects.

Remember, these are the same people who acquired Square Enix Montreal and then shut it down a couple months later.

https://embracer.com/releases/open-letter-by-embracer-group-ceo-on-restructuring-program/

 

[FAST6191]

Hmm. Cheap money run out or always the end game to cherry pick the best and scrap the rest?

 

[MoshpitWorkout]

Maybe they're employing the Embrace, Extend, and Extinguish strategy, but just forgot about the "extend" part?

I guess that killing hundreds of people's creative projects as well as putting their financial state at risk is fine as long as the numbers on the spreadsheet look good to some heartless analyst?

 

[AkiraKurusu]

They call themselves "Embracer", yet they're not embracing their employees...scumbag company does scumbag things.

 

[stanleyopar2000]

oh god please don't cancel my Deus Ex game....you just gave me hope after buying it from SquareEnix

 

[FAST6191]

Rumour seems to be they lost out on a billions of dollars contract (not to mention some high profile failures -- Saints Row 2022 was under their watch) and are cost cutting as a result. Have not read anything concrete or feasible on what the loss is, and how they calculate the value of it -- 2 billion in one year is also rather different to 2 billion over 5.

 

[Mothamoz]

Scumbag company exploiting employees, next

 

[onlyslacker]

So no Borderlands 4 huh

 

[SylverReZ]

They're not an embracer to the gaming community, so to speak.

 

[linuxares]

Nooo Embracer are the owner to Coffee Stains

 

[Purple_Shyguy]

I guess the $100,000,000 flop Saints Row totally fucked their shit up.

 

[linuxares]

I guess the $100,000,000 flop Saints Row totally fucked their shit up.

I just don't get Embracer. Have Nordic Games (then THQ Nordic and then Embracer) ever published anything good under their umbrella? I feel I only seen one studio produce quality and it's been Coffee Stain

 

[JeepX87]

Oh wow, I didn't know that Borderlands sold to Embracer since they used to be owned by Take Two (2K Games).

 

[subcon959]

Volition is the next casualty of this shitshow.. these people made Descent back in the day :/

 

[linuxares]

Volition is the next casualty of this shitshow.. these people made Descent back in the day :/

Well that happens when all talents leave and they bank on a one trick pony