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Embracer Group Faces Layoffs, Game Cancellations, and More

Studios reached out to say whether or not they were affected.
by Natalie Collazo on June 13, 2023   

Embracer Group Faces Layoffs, Game Cancellations, and More

Over this last year, we have heard a lot about and from Embracer Group. We have also heard about a lot of major studios and publishers having to lay off staff for a variety of different reasons. Unfortunately, it looks like Embracer Group is the next to undergo this change, and it's going to be affecting a lot more than we can imagine. In fact, it isn't just layoffs; it looks to be affecting whole studios and games as well, leading to closures and cancellations.

The company only recently acquired the Lord of the Rings IP, but had also lost a $2 billion deal just the night before releasing a report ending the fiscal year. The announcement about the former was revealed in a memo published on the Embracer website. The purpose of this company-wide restructuring is to face the reality of a worsening market after heavily investing in several objectives and projects. By this time next year, the restructuring should be completed, with a significant decrease in their current 17,000 employees and projects under their wing.

Crystal Dynamics spoke out on Twitter to ensure fans that the restructuring will not affect their partnership with The Initiative or Amazon with respect to the Perfect Dark and Tomb Raider games that fans are looking forward to. However, it looks like the games that will be canceled have been unannounced, so we might not hear about what those were for quite some time.

Several of the games that were already announced under the Embracer Group belt are Alone in the Dark, Homeworld 3, Hot Wheels Unleashed 2, and the recently announced Payday 3. Payday 3 only had its gameplay shown for the first time a few days ago at the Xbox Showcase

The memo also explains that while funds will decrease significantly for things that don't have to do with development as well as third-party publishing, we can still expect to see funding for larger projects. Hopefully, Payday and Alone in the Dark will continue to be two of the projects that will move forward smoothly.

Check back with DailyGamer for more news and information about Embracer Group.


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