Embracer Group Concludes Restructuring Efforts, Rules Out Further Studio Sales

In a recent investor call, Lars Wingefors, CEO of Embracer Group, announced the completion of the company's extensive restructuring process. This process resulted in the loss of 1,400 jobs and the closure of three studios. Wingefors emphasized that the sale of Gearbox, the developer of Borderlands, marked a significant milestone in this process. He also stated that Embracer is not planning to sell any additional studios, as they are crucial to the group's future success. When asked about potential layoffs, the company responded that it will continuously evaluate options to ensure the company's success. The restructuring efforts began in June 2023, following the collapse of a $2 billion deal, and have resulted in the departure of hundreds of staff members. Embracer Group now comprises 111 internal game development studios and dozens of other businesses, with a total headcount of over 12,000.