Embracer Group announces restructuring
Large gaming holding company plans for layoffs and closures
Embracer Group, one of the largest video game and media holding companies in the world, has announced a large-scale restructuring program.
The program’s main focus areas are operational savings, capital allocation, and efficiency improvements - and to reduce overhead costs at least 10%,. This includes closing of studios and termination of projects, that have not yet been announced and with low projected returns; creation of a more comprehensive, centralized process for game investment and progress review; and consolidation of companies and businesses, including review of operative group structures, among other steps.
Embracer Group AB has continued to grow rapidly over the past two years, purchasing multiple Square Enix studios and IPs, Gearbox Entertainment, the rights to Middle-earth Enterprises, and more. As of May 2022, Embracer had more than 14,000 employees, 10,000 engaged game developers, and 124 internal studios.
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