THQQF - Embracer Signals Further Layoffs: 1387 Job Cuts Only The Beginning | Benzinga
Embracer Group AB (OTC: THQQF) has undergone a significant restructuring.
What Happened: The Swedish video game and media holding company reduced 8% of the global workforce — the equivalent of 1,387 employees since June.
This reduction accounts for 904 job cuts in the second quarter and an additional 483 in the third. The company also scrapped 29 unannounced games during this period, IGN reported.
"In a group-wide effort, our companies and studios have had to make difficult decisions, particularly on having to part ways with team members," CEO Lars Wingefors stated.
He added, "The reductions are managed locally on the operative group ...