Embracer Group has said it has laid off 904 staff, or 5% of its workforce, since its financial struggles began following the collapse of a $2 billion deal, reportedly with Saudi government funded company Savvy Games Group.
The Swedish firm has come under fire for the sweeping cuts it has made so far in 2023, including the closure of long-running Saints Row maker Volition. During a financial presentation, Embracer said its internal headcount was reduced by 713 people (511 developers and 202 non-developers), and its external developer headcount was reduced by 191. In total, 15 mostly unannounced projects were “written down” across Amplifier, Freemode, Gearbox, Plaion, Saber, and THQ Nordic, Embracer said.
In a presentation to deliver...