Death Stranding 2 was officially announced at The Game Awards in December last year, and it looks like the open world title could be gearing up to return to the stage in this year’s show.
06.11.2023 - 11:31 / videogameschronicle.com / Lars Wingefors / Matthew Karch
Embracer Group’s chief operating officer has confirmed his departure from the company.
Egil Strunke shared the news on Monday and claimed he’d left the holding company – which owns many game developers such as Gearbox and Crystal Dynamics – last week.
In June, Embracer announced the appointment of an interim COO, which would be filled by Saber Interactive boss Matthew Karch.
The COO is typically the second in command, reporting to the CEO, and handles the daily business operations of a company.
“Last week I left Embracer Group as COO, and it’s with mixed feelings I am parting ways this global company phenomenon, rooted in Karlstad, Sweden,” Strunke wrote on Monday.
“On one hand I’m grateful for having had the chance to work with the one-of-a-kind [CEO] Lars Wingefors and all the other AMAZING colleagues (too many to mention!) which I will be sad to leave. On the other hand excited about the opportunities that lie ahead – starting and building my own company: Strunke Games.”
Strunke’s history with Embracer spans two four-year stints, 2011 – 2014 and 2019 – 2023. In his statement, the former COO acknowledged his challenging final year at the firm.
“Although the last year has been rough, in line with general market changes and industry consolidation, I am positive that Embracer will come out stronger and with a long, bright future ahead of them.”
The departure comes during a difficult year for the holding company, in which the collapse of a major deal has caused it to implement a “restructuring program” which will involve “the closing of studios and termination of projects”.
Embracer has since made layoffs at companies including Gearbox Publishing, Tomb Raider maker Crystal Dynamics, and Knights of the Old Republic remake studio Beamdog.
It also shut down Saints Row developer Volition in August and is reportedly considering selling Borderlands maker Gearbox, which it acquired in 2021 in a deal worth up to $1.4 billion.
2023 has seen widespread job losses across the games industry.
Death Stranding 2 was officially announced at The Game Awards in December last year, and it looks like the open world title could be gearing up to return to the stage in this year’s show.
Andrzej Sapkowski's got a new Witcher book on the way, which means he's out and about being his usual scorchingly, wonderfully honest self on the interview circuit. Most recently, he's been at Vienna Comic Con, where he chatted with Austrian gaming website Cerealkillerz about writing (don't do it), videogames (he doesn't play them), and the Netflix Witcher TV series (they didn't listen to him).
Epic Games has officially announced Fortnite’s next live event: The Big Bang. It’s set to kick off in-game on December 2.
The Big Bang is coming to Fortnite very soon.
The Game Awards are coming up on December 7, and with nominees having been revealed for all categories, over the coming days and weeks, we should start getting details on some of the announcements and reveals we’ll see at the showcase. And Microsoft, it seems, has something up its sleeve on that front as well.
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Embracer Group, the Swedish video game and media holding corporation responsible for a wide range of intellectual properties and game studios, has announced that it's laid off a total of 900 employees over the past three months.
Embracer boss Lars Wingefors is staying tight-lipped on the current state of the Star Wars: Knights of the Old Republic remake.
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.
Swedish conglomerate Embracer Group laid off 900 people during the last three months after actioning a restructuring program designed to turn the company into a "highly cash flow generative business."
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.
Swedish games giant Embracer Group has let go more than 900 people as part of its restructuring effort.