Embracer Group Confirms It Shelved 29 Unannounced Games Between July

29 unannounced projects were cancelled by Embracer Group between July — December 2023, the company has revealed.

The news comes following confirmation from the publishing powerhouse that it has let go of 1,387 staff since it began its restructuring program in June last year. It has also warned that more jobs could be at risks as the initiative enters its final stretch.

Embracer Group had 153 unannounced projects in the pipeline during the first financial quarter ended June 2023, which fell to 138 during its second quarter and 124 by the time its third quarter wrapped in December last year.

A number of development studios were shuttered as a result of the restructuring plans, including Saints Row creator Volition and TimeSplitters’ Free Radical Design. The video games industry on a whole has suffered a huge amount of job losses in the past year or so, and it doesn’t look like it’s going to stop anytime soon, either.

[Source – VGC]