THQ Nordic has delayed its Alone in the Dark reboot for a second time.
17.11.2023 - 17:11 / techradar.com
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.
Despite these losses, Embracer has still reported a 13 percent year-on-year increase in net sales over the second quarter of 2023 (July to September). In its latest earnings report, the holding corporation announced that it's seen a five percent decrease in sales across its PC and console games portfolio. That said, the report also claims that the last three months have been one of the «strongest quarters for new releases ever» (via RockPaperShotgun).
Embracer CEO Lars Wingefors stated in the report that «over the past two years, our internally developed games have had [returns] over twice as high compared to externally developed games.»
On the subject of titles released under the Embracer umbrella, Wingefors noted that Remnant 2had done well for the conglomerate, selling over two million copies. Dead Island 2also received praise, with the CEO complimenting the «successful release» of the zombie-fuelled action game. By contrast, Wingefors remarked that Starbreeze Studios's heist-oriented FPS Payday 3had «seen a mixed reception and performance.» This checks out, given the game's struggles with technical issues.
Despite the rosy picture painted in Embracer's quarterly report, its subsidiaries have suffered from heavy layoffs. The recent move towards «restructuring» has seen hundreds lose their livelihoods.
Embracer has reportedly threatened to shut down Free Radical Design, the studio behind classic shooter TimeSplitters with closure while flat-out closing Volition, the developer of Saints Row. Employees at Tomb Raider developer Crystal Dynamics were also laid off back in September. Reports have also emerged that Embracer is looking to sell Borderlands developer Gearbox.
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THQ Nordic has delayed its Alone in the Dark reboot for a second time.
Sweden's Embracer Group has shut down Insurgency developer New World Interactive.
Insurgency developer New World Interactive are the latest Embracer Group-owned studio to lay off staff, as part of the Swedish conglomerate's efforts to reduce their debts after a series of reckless studio acquisitions. It's not clear how many people have been affected, but New World Interactive's direct corporate parent Saber Interactive have revealed that one unannounced project has been cancelled.
By Ash Parrish, a reporter who has covered the business, culture, and communities of video games for seven years. Previously, she worked at Kotaku.
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Embracer management has now apparently confirmed Free Radical Design's closure to its staff.
The Embracer mass layoffs train has come for Fishlabs, the Hamburg-based studio behind space shooter Chorus. Embracer have laid off more than half the Fishlabs team - "around 50 people" - as part of a restructuring operation that has already seen the Swedish conglomerate cut over 900 jobs across their business over the summer.
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The layoffs at troubled Swedish games giant Embracer Group are apparently "a necessary thing" for the company to meet its objectives.