900 People Laid Off from Embracer Group During Its Second Quarter of 2023 1

As has already been reported, Embracer Group is among the many businesses in the industry cutting back its workforce in 2023. However, we now have a figure; during its second quarter, ending with September, the holding company has let go of 900 employees. To put that in perspective, this number represents just five per cent of its total staff.

The figure comes from the opening statements of Embracer CEO Lars Wingefors during a recent quarterly earnings presentation. "Before we get into the business details of our second quarter, I want to start this conference by saying a personal thank you to the 900 who left Embracer during the second quarter," he said.

He went on to reiterate the company is aiming to become "a leaner, stronger company", though the layoffs are "painful" and Embracer is doing "everything we can to preserve jobs without changing what we need to achieve".

Earlier in the year, the company announced a huge restructuring plan, and this has led to the layoffs mentioned as well as studios closing or reportedly being put up for sale. Teams under Embracer that have been affected so far include Crystal Dynamics, Gearbox, and, apparently, Free Radical — a team Embracer brought back to revive TimeSplitters.

[source videogameschronicle.com]