Extensive restructuring Hug group, which was announced last summer, is nearing completion. The Swedish company announced that it had laid off 483 employees in the final months of 2023. In the previous quarter, 904 people lost their jobs. Together, the giant, which previously bought development studios and brand rights, said goodbye to 1387 people.
At the beginning of this year, the restructuring plan entered its final phase. It should last until the end of March. Until then, there will be more layoffs. Today this figure is already higher, since less than a month ago we learned about cancellation of the new Deus Ex and related layoffs at the Eidos Montreal studio. The project was supposed to run for two years and 97 people were to be laid off due to its cancellation.
The sale should also cut costs. CEO Lars Wingefors did not specify what they want to sell. It was talked about selling the gearbox (creators of Borderlands). The authors of the Gothic, Risen and Elex series in the German studio fear for their survival Piranha Bites. First there were reports of the liquidation of the company. In an official statement, the developers say that they are looking for a new owner. I hope they turn out better than closed studios Volition (Saints Row) and Free Radical Design (TimeSplitters).
In 2023, Embracer Group closed Crystal Dynamics (Tomb Raider), New World Interactive, 3D Realms, Slipgate Ironworks or Fishlabs. The vast majority of studio employees have been laid off this year Lost Boys Interactivewhich is a division of Gearbox Entertainment and contributed to the comic book shooters Gearbox Tiny Tina’s Wonderlands and Blizzard’s Diablo 4.
Embracer Group’s gaming division is divided into THQ Nordic, Plaion, Coffee Stain, Saber Interactive, DECA Games and Gearbox Entertainment. In these divisions we can also find the Czech studios Warhorse (Kingdom Come) and Ashborne Games (Last Train Home), the Slovak Nine Rocks Games (Hunter’s Path), the Ukrainian 4A Games (Subway) and Tripwire Interactive (Killing Floor).
The major restructuring follows the failure to complete a $2 billion deal with Saudi Arabia’s Savvy Games Group.
Source :Indian TV
