With the financial results of Embracer Group some bad news has arrived for the gaming industry, especially regarding layoffs, to which they must be added 29 games cancelled between projects not yet announced by the group, between July and December.
As we have seen, Embracer has confirmed that it has laid off almost 1,400 employees, with other probable cuts on the way, as part of a gigantic restructuring that should lead to a significant cut in expenses and production costs, which also includes the cancellation of various projects in development.
Among these, Embracer confirmed that it had canceled 29 games that had not yet been announced, just for the months between July and December 2023therefore a probably still partial vision of the internal situation of the company.
A carnage
During the fiscal first quarter, Embracer reported that there were 153 unannounced games in development across the many teams that are part of the Embracer galaxy, but that number has been scaled back as it continues internal restructuring.
The total amount of projects dropped to 138 in the second quarter of the fiscal year and then subsequently to 124 in the third quarter ending in December 2023. This is still a large amount of projects, but you also have to consider how many teams are under the Embracer umbrella.
The cancellation of 29 games probably also means various redundancies and layoffs, as well as investments practically thrown away, following assessments of the possible lack of return on these. Let's remember that well-known teams fell in the restructuring procedure, as we saw with the closure of Volition, Free Radical and others.
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