Embracer's restructuring plan has resulted in around 1 400 redundancies
, by Thibaut
Last June, Embracer Group launched a vast restructuring plan that was to result in layoffs and the closure of several studios, included Free Radical (TimeSplitters) and Volition (Saints Row).
The Swedish company reported this week that 483 employees were let go during the quarter ending December 31, 2023. Added to the 904 departures recorded in the previous quarter, this gives a total of 1,387 redundancies since the announcement of the famous plan, which represents around 8% of the company's workforce.
Alas, the bad news is set to continue, as the restructuring is now "in its home stretch". Embracer CEO Lars Wingefors has indicated that "a few larger divestment processes" are underway.
Source: videogameschronicle.com