Recently, we've seen the closure of Volition, and layoffs at Crystal Dynamics, the studio behind the Perfect Dark reboot and Tomb Raider. It doesn't seem like this period of studio closures and people losing their jobs is quite over yet, though.
In Embracer's annual general meeting, CEO Lars Wingefors spoke about restructuring, stating that it is an ongoing process. He said the following:
"It's tough from many standpoints, obviously, but we are determined to deliver on this. Preferably we would like to find new opportunities for the employees, even if it's outside of Embracer Group potentially. Sometimes it'll be a divestment, or that we are working with partners to finance some projects. But ultimately we are making decisions to either restructure or to downsize some teams and there will be a few cases of closures. We are confident to deliver on the target set out for the end of the fiscal year."
There's also the possibility that some Embracer assets, such as Gearbox, could have interest from other parties. Wingefors seemed to dodge that topic mostly, not giving anything away. "There is a strong, vibrant market with many, many active players - both financial sponsors and big industry players," he said. "But it's easier to run proper processes for, I would say, more high-value assets than smaller assets."
Hopefully too many people won't be affected by this process, as we've seen plenty of layoffs in games, movies, and TV this year.