Frontier to Lay Off Employees

Frontier to Lay Off Employees

Business

17 October 2023 16:57

According to recent reports, Frontier the developer of titles such as F1 Manager and Planet Zoo is getting ready for layoffs. The company stated it intends to '"refocus on its core strengths following a period of disappointing financial performance and more challenging industry conditions." The company aims to slash operating costs by up to 20%. Frontier announced operating loss of $30m.

The company stated "The Board remains comfortable with market expectations for FY24, with consensus revenue at £108 million and consensus Adjusted EBITDA loss of £9 million. The cost reductions from the Organisational Review are expected to be fully effective for FY25."

The gaming industry in general is going through a rough patch. Recently companies such as Telltale Games laid off its members and the layoffs even affected Twitch staff.

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Frontier to Lay Off Employees

Business

17 October 2023 16:57

Tags: Frontier

According to recent reports, Frontier the developer of titles such as F1 Manager and Planet Zoo is getting ready for layoffs. The company stated it intends to '"refocus on its core strengths following a period of disappointing financial performance and more challenging industry conditions." The company aims to slash operating costs by up to 20%. Frontier announced operating loss of $30m.

The company stated "The Board remains comfortable with market expectations for FY24, with consensus revenue at £108 million and consensus Adjusted EBITDA loss of £9 million. The cost reductions from the Organisational Review are expected to be fully effective for FY25."

The gaming industry in general is going through a rough patch. Recently companies such as Telltale Games laid off its members and the layoffs even affected Twitch staff.

Share:

Sources:

Report mistake   

Submit news   

Related news

View All

Valnet Acquires Polygon

Polygon, one of the most prominent video game and pop culture websites of the last decade, has been acquired by...

Business

May 02, 2025

Epic Games Reveals Webshop for Devs

Just a day after its significant legal victory over Apple, Epic Games has announced a new set of features...

Business

May 02, 2025

GTA 6 Delayed Again

Rockstar Games has officially delayed the release of Grand Theft Auto VI, pushing the launch date to May 26, 2026....

Business

May 02, 2025

EA to Lay off 300-400 Employees

Electronic Arts (EA) is laying off between 300 and 400 employees in a significant restructuring effort, according to a report...

Drama

May 01, 2025

Ubisoft Cornered

Ubisoft has issued a response following a formal privacy complaint filed against the company by NOYB – the European Center...

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Apr 30, 2025