All publications by tag «Embracer Group»
What’s happening at Embracer: $166 million net loss, 22 game write-downs, 1,387 layoffs, and focus on own IPs
Embracer Group has released its financial report for the third quarter ended December 31, 2023. The Swedish holding company is approaching the final stage of its restructuring program, which has already resulted in nearly 1,400 job cuts, while also making adjustments to its game development strategy.
Embracer Group lays off 97 people at Eidos Montreal, cancels unannounced Deus Ex game
Many players hoped that Eidos Montreal would get a chance to make a new Deus Ex game after joining Embracer Group. However, the Swedish holding company not only canceled the project, but also laid off a number of the studio’s employees.
Free Radical Design closes its doors to just over 80 people, just two years after being revived by Embracer
The days of Free Radical Design, which was revived two years ago, have sadly come to an end. The studio joins a growing list of teams affected by Embracer Group’s ongoing restructuring program.
How Embracer Group decides which of 200+ games in its pipeline get green light during its cost-cutting restructuring
Mass layoffs aside, one of the main elements of Embracer Group’s ongoing restructuring program is a review of all games in its pipeline. Chief strategy officer Phil Rogers has detailed the process and the progress the Swedish holding company has made so far.
Embracer Group tops $1 billion in revenue in Q2, while its restructuring program already resulted in 904 job cuts
Embracer Group has shared its financial results for the three-month period ended September 30. The Swedish holding company also provided new details about its gaming business and the ongoing restructuring program that has already resulted in hundreds of job cuts.
Inside Embracer’s plans and strategy: game revenues, “notably lower margins” in PC & Console segment, and further divestments
Embracer Group held its annual general meeting on September 21. The Swedish holding company shared some insights into its financial performance, specific game sales and revenues, as well as its restructuring program and strategy going forward.
Beamdog, studio behind Baldur’s Gate remasters, reportedly lays off 25 people as part of Embracer Group’s restructuring
Beamdog, best known for remasters of classic RPGs like Baldur’s Gate and Planescape: Torment, has reportedly been hit with layoffs. It appears to be another victim of the ongoing restructuring at Embracer Grpoup, which acquired the studio last year.
[UPD] Embracer Group considering selling Gearbox Entertainment, as its restructuring continues to affect more studios
The ongoing restructuring at Embracer Group has already affected several subsidiaries of the Swedish holding company. The latest report indicates that Gearbox Entertainment could also be in danger.
Embracer Group continues to cut costs by closing 30-year-old Volition and laying off people at Gearbox Publishing
Embracer Group, which was once on an endless shopping spree, is now dumping its first-party studios as part of the ongoing business restructuring. This time, the victim was Red Faction and Saints Row developer Volition, not to mention layoffs at Gearbox Publishing.
Embracer Group reports almost $1 billion in Q1 revenue, with sales of PC and console games up 74%
Embracer Group has announced its financial results for the first fiscal quarter ended June 30. The Swedish holding company saw growth in key business metrics, also saying that its restructuring is proceeding according to plan.
Report: Embracer Group’s collapsed $2 billion deal was supposed to be with Savvy Games Group, its second-largest shareholder
New details have surfaced about the collapsed $2 billion deal that Embracer Group was supposed to close earlier this year. It appears that its partner was Savvy Games Group, an investing firm established by Saudi Arabia’s sovereign wealth fund.
Genshin Impact developer miHoYo generated more profit in 2022 than Activision Blizzard, EA, and Embracer
miHoYo is a private company, so it doesn’t have to release financial statements. However, Chinese media recently disclosed some information about the Genshin Impact developer’s revenue and profit.