There are also plans to get rid of the Easybrain mobile team.
Swedish holding company Hug group the past six months have recorded a significant year-on-year decline. The company ended the first half of the year after officially completing a restructuring caused by financial problems. The sale of two major divisions and the closure or limitation of a number of studies have a negative impact on the company’s results in the short term.
Embracer’s half-year sales fell year-on-year by 23% to conversion 1.4 billion euros. The company reports the most significant decline in the field of computer and console games. Compared to the same period last year (from April to the end of September), they now earned 40% less income. The reason can be found in both the loss of a strong catalog of older games and fewer games being released with varying commercial success. Nobody wants to die or Disney’s Epic Mickey: Remastered enjoying the positive reception among the players.
The company also incurs a loss, which, according to its calculations, amounts to 223 million euros. It earned $146 million in the first half of last fiscal year. Although the restructuring itself was supposed to require “only” about 1,400 jobs, the total number of employees fell by more than a third during the year. Embracer currently employs 10,450 people.
Nothing changes in terms of dividing the company into three separate divisions. Asmodeus focusing on board games, it is expected to achieve independence already in the current financial year – by the end of March 2025. Later, a couple of game publishers will be created.
Warhorse will become part of the AAA label.
Although Embracer announced the end of its restructuring at the end of its last fiscal year, it continues to sell studios. Along with the financial results, he also announced the transition of the Easybrain mobile team to the Miniclip publishing house.
The Swedish owner already sold the team in May. Shiver Entertainment. The authors of the ports of Hogwarts Legacy and Mortal Kombat 1 for Switch were acquired by Nintendo. The layoffs and school closures don’t end there. In June, the developers of the new product had to quit Alone in the dark from the studio Interactive plays. The support team has been shrinking lately. Lost Boys and in Cryptic Studios.
Source :Indian TV
