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Embattled IP hoarder Embracer Group has announced the departure of Chief Operations Officer Egil Strunke, who leaves the company amidst a larger restructuring comprised of layoffs, cancellations, and studio closures.

In a statement, Strunke confirmed the news of his departure, revealing that he had "mixed feelings" about the entire affair, as he left behind longtime friends and colleagues to start and build his own company, called Strunke Games. He says, of recent events at Embracer:

"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."

Tomb Raider developer Crystal Dynamics wasn't safe from layoffs despite initially seeming to emerge from the fray unscathed. Embracer has reportedly also been in talks to sell Gearbox, the developer behind the Borderlands franchise, amongst others.

What do you think the future looks like for Embracer? Will 2024 see the company right the ship, or are more black clouds on the horizon? Let us know which direction you think the wind is blowing in the comments section below.