Embracer Group has laid off over 900 people in the last three months but reports “one of our strongest quarters for new releases ever”
That’s five percent of the workforce
When you purchase through links on our site, we may earn an affiliate commission.Here’s how it works.
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 hasstill reporteda 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 thatRemnant 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 FPSPayday 3had “seen a mixed reception and performance.” This checks out, given the game’sstruggles with technical issues.
Despite the rosy picture painted in Embracer’s quarterly report, its subsidiaries have suffered from heavy layoffs. The recentmove towards “restructuring"has seen hundreds lose their livelihoods.
Embracer hasreportedly threatened to shut down Free Radical Design, the studio behind classic shooterTimeSplitterswith closure while flat-out closing Volition, the developer ofSaints Row.Employees atTomb Raiderdeveloper Crystal Dynamics were alsolaid off back in September. Reports have also emerged thatEmbracer is looking to sellBorderlandsdeveloper Gearbox.
Save money this winter with our roundups ofBlack Friday Xbox Series X dealsandBlack Friday PS5 deals.
Get the best Black Friday deals direct to your inbox, plus news, reviews, and more.
Sign up to be the first to know about unmissable Black Friday deals on top tech, plus get all your favorite TechRadar content.
An editor and freelance journalist, Cat Bussell has been writing about video games for more than four years and, frankly, she’s developed a taste for it. As seen on TechRadar, Technopedia, The Gamer, Wargamer, and SUPERJUMP, Cat’s reviews, features, and guides are lovingly curated for your reading pleasure.
A Cambridge graduate, recovering bartender, and Cloud Strife enjoyer, Cat’s foremost mission is to bring you the best coverage she can, whether that’s through helpful guides, even-handed reviews, or thought-provoking features. She’s interviewed indie darlings, triple-A greats, and legendary voice actors, all to help you get closer to the action. When she’s not writing, Cat can be found sticking her neck into a fresh RPG or running yet another Dungeons & Dragons game.
NYT Connections today — hints and answers for Friday, November 8 (game #516)
Best Dragon Age games in 2024 - every series entry ranked
Your doctor may have an AI assistant taking notes during your next Zoom call
