Following the collapse of a major deal, Embracer Group (OTC: THQQF) has confirmed laying off 904 employees, constituting 5% of its workforce.
These cuts include the closure of Volition, the studio behind Saints Row, IGN reported. The company announced a reduction in headcount across various divisions and wrote off 15 undisclosed projects across multiple subsidiaries.
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CEO Lars Wingefors emphasized the company's determination to become more efficient but stressed the importance of conducting the process with compassion and integrity. Despite this, Embracer anticipates further layoffs due to ...