Embracer Group Lays Off Over 900 Staff Amid Restructuring

Failed $2 Billion Deal Leads to Major Layoffs and Studio Closures

Embracer Group, the parent company of several major game development studios, has laid off over 900 staff as part of an ongoing restructuring plan.
The layoffs represent about 5% of Embracer's total workforce and come in the wake of a failed $2 billion deal with an undisclosed company.
The restructuring has led to the closure of several studios, including Saints Row developer Volition Games and TimeSplitters developer Free Radical Design.
Embracer Group's aggressive acquisition strategy over the past decade has been criticized as unsustainable, with the company now struggling to maintain its expanded operations.
The company's restructuring efforts have resulted in a 13% increase in net sales year-on-year for Q2, despite a 5% decline in sales from its PC/Console Games segment.