Embracer Canceled 29 Games And Laid Off 1,400 People In Just The Last Six Month
"Our overruling principle is to always maximize shareholder value in any given situation."
More like Extinguisher Group
Guessing Embracer are missing the Extend part.
During the July-December period, Embracer said the number of gaming projects it had in the works fell from 153 to 124, according to VGC. Total headcount was cut by 8%, or 1,387 jobs. These cuts includes 871 game developers at internal studios, 264 at external studios, and 252 internal staff working on game projects as non-developers.
Wow that's a lot of in progress games
They own over 76 studios, most of which I've never heard of and a lot don't even have Wikipedia lages. Just speculating without taking the time to do proper research, my guess is there are some mobile games included.
The problem was they bought too many game companies too fast, and now they can't afford to develop all this stuff at the same time.
It was a bad business decision by leadership, and now the grunts will pay for it.
Or they bought them to milk the good parts and pick on the carcasses to fund the takeovers?