Embracer has revealed that they have laid off a total of 900 employees in the second quarter of this financial year.
As reported by Video Games Chronicle, CEO Lars Wingefors made this statement:
“Before we get into the business details of our second quarter, I want to start this conference by saying a personal thank you to the 900 who left Embracer during the second quarter. As you will hear today, we are determined to transform Embracer into a leaner, stronger company.
That said, it’s painful to me that you need to leave the group, and we have been, and are doing, everything we can to preserve jobs without changing what we need to achieve.
Our people are what make up the very fabric of Embracer. For me personally, it’s crucial that the programme is carried out with compassion, respect and integrity.”
At the time Embracer announced that they would be starting layoffs in June, the company’s collection of employees at different game studios and publishers totaled 17,000 employees. These layoffs represent 2 % of that number. Embracer also revealed back then that they would continue to undergo restructuring until March 2024.
Now, to be clear, not everyone who was from a studio that was shut down was fired. Embracer went through a process that included moving some employees to different departments. They are also looking to do consolidation, meaning that some of these companies will combine. And they are looking to sell some of their assets, which would include the rights to some games, but also some of the companies themselves.
We’ll run down what we had previously reported about Embracer’s restructuring now:
June 13 – Embracer announces their restructuring plan.
September 1 – Embracer shuts down Volition, the 30 year studio behind the Saints’ Row games.
September 11 – Embracer is rumored to be looking for a buyer for Gearbox Studios.
September 21 – Embracer announces layoffs in Crystal Dynamics.
October 19 – Embracer announces layoffs in Zen Studios, the studio behind the Zen Pinball and Pinball FX video pinball franchise.
November 3 – Embracer announces layoffs at Cryptic Studios, an MMO studio whose latest release was Neverwinter.
November 6 – Embracer Group’s chief operating officer Egil Strunke announces that he has left the company.
November9 – Embracer is rumored to be closing Free Radical Design. The original Free Radical made the TimeSplitters games. Embracer tried to rebuild the studio for the purpose of spearheading a TimeSplitters revival.