Swedish Embracer Group lays off staff: closes 7 studios

DoNews reported on February 16 that Embracer Group, a gaming company headquartered in Sweden, had previously announced downsizing due to the "failure of a groundbreaking strategic cooperation plan." According to foreign media GamesIndustry, Embracer Group recently confirmed that they had laid off 1,400 employees. , canceled 29 unannounced games and closed 7 of its game studios.

Embracer Group CEO Lars Wingefors claimed that the current restructuring plan has entered the final stage, but he warned that more employees may be laid off as the company plans to sell more assets.

It is reported that Embracer has currently closed down "Saints Row" developer Volition and "Time Splitters" developer Free Radical Design, while "Borderlands" developer Gearbox and other studios are currently said to have also closed down In "For Sale" condition.

Other studios that have not been disbanded are also deeply affected by layoffs. It is reported that the studios affected by layoffs include Gearbox Publishing, "Tomb Raider" developer Crystal Dynamics, "Star Wars: The Old Republic" Samurai Remastered developer Beamdog, Pinball FX developer Zen Studios and Deus Ex developer Eidos Montreal are not yet aware of how many employees at the above studios will be laid off.

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