Embracer Group Reveals Restructuring Program

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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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Gaming.png
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:Twitter.pngFacebook.pngInstagram.pngLinkedin.png
Sources:
Games Industry.png
Report mistake   Report-mistake-icon.png
Submit news   Submit-news-icon.png

Related News Icon Related news

View All
News Image
Savvy Games Group Cancels Embracer Deal

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

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Aug 15, 2023

News Image
Nvidia's Q4 Financial Results Revealed

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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