Restructuring News, Tips, Tricks & Ideas

Free Radical Design has reportedly closed down following earlier reports speculating its future.

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Guild Wars 2 has an update on World vs. World restructuring changes, and three new weapon proficiency previews: Short Bow Engineer, Pistols Guardian, and Pistol Elementalist.

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.

Payday 3 has underperformed for Starbreeze parent company Embracer.

It’s been a brutal year for the games industry with widespread layoffs having hit a number of developers and publishers over the last several months, and Embracer Group has been one of several companies that have been impacted. After failing to close a deal with Saudia Arabia’s Savvy Games Group worth $2 billion, the company started a restructuring program earlier in 2023, and that has resulted in a significant reduction in its total workforce.

Social media researchers have canceled, suspended or changed more than 100 studies about X, formerly Twitter, as a result of actions taken by Elon Musk that limit access to the social media platform, nearly a dozen interviews and a survey of planned projects show.

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After weeks of speculating why members of the Cryptic Studios team would all start to open their LinkedIn accounts to new work at the same time, reports have now come out that the MMORPG studio is experiencing layoffs.

Yesterday we heard reports that Bungie, the Destiny 2 developer recently purchased by Sony by $3.6 billion, was undergoing a round of layoffs, but we didn’t get a lot of detail on the scope of what was going on or reasons for the studio shedding employees. Well, today Bloomberg’s Jason Schreier provided some additional information, and the picture he paints of business at Bungie is a bit gloomy.

Team 17, the British publisher behind some of the finest indie games of recent years, has parted ways with its CEO Michael Pattison, entering into a «period of consultation». 

Embracer Group has quite a few studios under its label. The company is now seemingly in a bind, ranging from various acquisitions and mergers. Financial struggles could be a real issue. In fact, it wasn’t long ago now that we had word of Volition Games shutting down completely. While Embracer Group is striving to restructure its plans going forward, a new round of layoffs has just occurred for another studio under their control. The latest was Crystal Dynamics, who were forced to see several jobs get cut. 

The Embracer Group has been struggling with financial issues in recent months, having failed to close an undisclosed deal worth $2 billion earlier in the year, in the wake of which the company announced that it would be shuttering studios, laying off employees, and cancelling unannounced games as part of a widespread restructuring program.

Volition, the studio behind the Saints Row series, has closed with immediate effect. The developer said in a statement that the shutdown was a result of restructuring at parent company Embracer Group.

Volition Games has shut down as part of Embracer Group’s ongoing restructuring. The studio, which has roots going back to 1993, is behind the Saint’s Row series, Red Faction, and Summoner.

A year after the underwhelming release of the Saints Row reboot, and just two months after celebrating 30 years of operation, Volition has been closed.

We're thrilled to announce the return of GamesBeat Next, hosted in San Francisco this October, where we will explore the theme of «Playing the Edge.» Apply to speak here and learn more about sponsorship opportunities here. At the event, we will also announce 25 top game startups as the 2024 Game Changers. Apply or nominate today!

BioWare, the EA-owned studio behind the Mass Effect and Dragon Age franchises, has announced it is laying off 50 employees. It says the studio must “shift towards a more agile and a more focused studio” and is eliminating 50 roles as a result. 

By Tom Warren, a senior editor covering Microsoft, PC gaming, console, and tech. He founded WinRumors, a site dedicated to Microsoft news, before joining The Verge in 2012.

French publishing giant Ubisoft has scored the rights to stream Activision Blizzard's stable of games.

Intel will reportedly increase the pricing of its current CPU lineup to squeeze out revenue for fab development and restructure the company as a whole.