Embracer co-founder and CEO Lars Wingefors has confirmed 900 employees were laid off in the past financial quarter, representing five percent of the workforce.
The company is in the midst of a “comprehensive restructuring programme” it announced in June to close studios and cut jobs, to transform the company into “a leaner, stronger, more focused and cash self-sufficient company”.
In the company’s latest financial report, Wingefors provided an update on restructuring progress, acknowledging the company’s “first ever quarter-over-quarter reduction in headcount”.
“In this group-wide effort, we are not only discontinuing a number of studios, we have also made staff reductions and reduced the number of projects in several other studios, with a focus on improving the projected return on investment within PC/Console,” said Wingefors.