Embracer launches cost-cutting measures. Game studios to close, employees to be laid off.

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Embracer launches cost-cutting measures

Game studios to close, employees to be laid off

Lars Wingefors

Foto: Embracer

The Swedish gaming giant Embracer Group announced today that they will be launching a cost-cutting program to reduce expenses in the company.

This includes saving 10 percent of their expenses, equivalent to at least 800 million Swedish kronor, on an annual basis in the coming years. In a press release, Embracer stated that this is expected to result in a reduction of their expenses by 2.9 billion kronor by 2024/2025.

In an open letter, Embracer's CEO and founder Lars Wingefors wrote that the cost-cutting program will lead to the closure of some of the group's 138 game studios and some of the total 17,000 employees will lose their jobs. There is currently no information on exactly how this will look.

embracer.com

Cars,

Embracer Group, cost-cutting program, Lars Wingefors, game studios, job losses

Via embracer.com

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