Cryptic Studios latest Embracer outfit to face job cuts

Even in a year where the news cycle has been as dominated by layoffs in the games industry as 2023 has been, the scale at which Embracer Group has made cutbacks where its staff is concerned has taken many by surprise. The company instituted a restructuring plan earlier in the year after it failed to close a $2 billion deal with Saudi Arabia’s Savvy Games Group, recently confirming that that had led to about 900 Embracer employees being laid off.

Dragon's Dogma, the 2012 hack and slash RPG from Capcom, is getting a sequel after 11 years. And you thought the gap between Grand Theft Autos was large?

Embracer Group released its latest financial report, which included updates on how their restructuring is going so far. With debt down to about $1.4 billion, there’s still more to go, even after laying off a confirmed 904 people so far.

Swedish mega-publisher Embracer Group has laid off more than 900 people as it looks to mitigate its massive $1.3 billion in debt. With these cuts — and more to come — Embracer expects to lower that number to below $1 million by the fiscal year’s end. The company, which is known for its rapid expansion and industry consolidation, has 15,701 employees as of late September, according to its latest financial report.

Payday 3's release and sales expectations have been discussed by both developer Starbreeze and the studio's parent company Embracer.

Embracer co-founder and CEO Lars Wingefors has confirmed 900 employees were laid off in the past financial quarter, representing five percent of the workforce.

Embracer Group has said it has laid off 904 staff, or 5% of its workforce, since its financial struggles began following the collapse of a $2 billion deal, reportedly with Saudi government funded company Savvy Games Group.

To say that Payday 3 didn’t get off to the best start would be a bit of an understatement. The long-awaited co-op shooter launched in September to widespread criticism from critics and audiences alike, catching flak for everything from its progression mechanics and lack of content to connectivity issues and more. That, unsurprisingly, has seen the game performing worse than Embracer Group – parent company of publisher Deep Silver – would have expected, in spite of having managed to attract 3.1 million players in September.

Swedish games giant Embracer Group has let go more than 900 people as part of its restructuring effort.

The video game industry’s string of layoffs continues: Digital Bros. Entertainment and Kongregate have both announced job cuts.

Vampire Survival ARPG V Rising, developed by Stunlock Studios, has announced an upcoming major patch that promises to enrich the game's intricate landscape. The developer's latest article sheds light on several key aspects of their next major patch, ensuring that players are kept at the edge of their seats with dreadful anticipation.

Warframe studio Digital Extremes has confirmed a round of job cuts tied to the closure of its external projects division.