Latest Embracer Group News
Tuesday30th Jan 2024
News Embracer Group Lays Off 97 Staff, Axes Next Deus Ex Game
Eidos will instead focus on an "original franchise"
It's not a fun way to start the week but unfortunately, there's been even more video game development layoffs. According to Bloomberg, Embracer Group is cancelling the next entry in the Deus Ex series after two years of development. As a result of this, it's laying off "a number of employees as...
Monday11th Dec 2023
News TimeSplitters Dev Free Radical Has Shut Down As Staff Share "Last Day" Messages
"It's sad to say goodbye like this"
Without even an official announcement, it looks like Embracer Group has shut down UK game studio Free Radical Design, the team behind the TimeSplitters series of video games. Staff at the Nottingham-based developer have been sharing their thoughts, goodbyes, and happy memories on Twitter (spotted via Game...
Wednesday8th Nov 2023
News Embracer May Soon Be Closing 'Timesplitters' Studio Free Radical Design
Another casualty of Embracer's restructuring
In yet another blow to the gaming industry, VGC has reported that Embracer Group may soon be closing the Nottingham-based UK studio Free Radical Design. The team was reformed back in 2021 to revive the classic FPS franchise Timesplitters, but it looks like that may now be under threat as a result of...
Thursday21st Sep 2023
News Embracer Group: More "Tough Decisions" To Come As Crystal Dynamics Suffers Layoffs
Embracer's restructuring continues
Tomb Raider developer Crystal Dynamics is the latest subsidiary of Embracer Group to be hit with cuts, with the studio announcing yesterday on Twitter that ten staff had to be let go "due to an internal restructuring". And, at Embracer's annual general meeting (which you can watch on YouTube), CEO Lars Wingefors...
Wednesday20th Sep 2023
News Mythforce Developer Hit By Layoffs As Embracer Continues To Restructure
26 employees affected
Embracer Group is continuing its efforts to restructure its organisation, this time resulting in multiple job losses at developer Beamdog, which was acquired by Aspyr / Embracer last year. As reported by GameDeveloper (thanks, Eurogamer), a total of 26 employees at the MythForce developer were let go according to multiple...
Monday11th Sep 2023
News Embracer Group Reportedly Looking To Sell Borderlands Dev Gearbox Entertainment
Update: More reports surface
Update: Bloomberg has corroborated Reuters' report from earlier today. Reporter Jason Schreier shared that Bloomberg has seen an email written by Gearbox's Chief Communications Officer, which notes that there are "many options under consideration". The letter reportedly says "The base case is that Gearbox remains a...
Tuesday13th Jun 2023
News Embracer Group To Make Severe Cutbacks After Absurd Spending Spree
Jobs, studios, and games all on the line
Embracer Group has announced that it is entering a 'restructuring program' with a view to becoming a "leaner, stronger and a more focused, self-sufficient company". In other words, it's about to undertake some pretty substantial cost-cutting measures after spending the last six years or so focusing on...
Wednesday24th May 2023
News Embracer Group Shares Plunge After $2 Billion Deal Falls Through "Late Last Night"
The stock market reacts
Embracer Group — the owners of huge IPs including The Lord of the Rings, Tomb Raider, and Borderlands — has seen its shares drop by a whopping 39.28% in the past day after it announced the surprise "negative outcome" of a potential $2 billion contracted development deal. The drop occurred this morning following the...
