Embracer Group Reveals Restructuring Program

Embracer Group Reveals Restructuring Program

Companies

13 June 2023 16:15

Gaming giant Embracer Group will go through a restructuring program. The company stated "the closing of studios and termination of projects, that have not yet been announced and with low projected returns." The scope of the program is,

• Matthew Karch appointed interim Chief Operating Officer, and Phil Rogers appointed interim Chief Strategy Officer, to co-lead the program planning and implementation
• Reduction of general overhead, corporate, publishing and SG&A costs
• The closing of studios and termination of projects, that have not yet been announced and with low projected returns
• Creation of a more comprehensive, centralized process for game investment and progress review, while maintaining creative freedom
• Consolidation of companies and businesses, including review of operative group structures
• Reduction of investments into external development with greater focus on internal development based on owned or controlled IP
• Increased external funding of internally developed, large-budget games
• Renewed focus on the Group’s main business areas
• Implementing a centralized and standardized, more data-driven and precise approach to game forecasting

Tags: Embracer

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Embracer Group Reveals Restructuring Program

Companies

13 June 2023 16:15

Tags: Embracer

Gaming giant Embracer Group will go through a restructuring program. The company stated "the closing of studios and termination of projects, that have not yet been announced and with low projected returns." The scope of the program is,

• Matthew Karch appointed interim Chief Operating Officer, and Phil Rogers appointed interim Chief Strategy Officer, to co-lead the program planning and implementation
• Reduction of general overhead, corporate, publishing and SG&A costs
• The closing of studios and termination of projects, that have not yet been announced and with low projected returns
• Creation of a more comprehensive, centralized process for game investment and progress review, while maintaining creative freedom
• Consolidation of companies and businesses, including review of operative group structures
• Reduction of investments into external development with greater focus on internal development based on owned or controlled IP
• Increased external funding of internally developed, large-budget games
• Renewed focus on the Group’s main business areas
• Implementing a centralized and standardized, more data-driven and precise approach to game forecasting

Share:

Sources:

Report mistake   

Submit news   

Related news

View All

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According to recent reports by Axios, Savvy Games Group canceled the strategic partnership deal with Embracer Group. The $2 billion...

Drama

Aug 15, 2023

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Nvidia announced its fourth fiscal quarter results for fiscal 2024, ending on January 31, 2024, with revenue reaching $22.1 billion....

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• Betting handle for the three-month period ended June 30, 2023...

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  Aug 31, 2023

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Finnish company UNEVN announced the launch of Base. The new product consists of a computer, monitor, keyboard, mouse and a...

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Aug 24, 2023

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