Tag: Embracer
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Reportedly, Embracer Shuts Down Cult RPG Developer Piranha Bytes, Makers of Gothic, Risen, and Elex
The possible closure of the German game studio Piranha Bytes continues as fallout from the acquisition frenzy of publishing giant Embracer Group. The corporation’s reported shuttering of the studio, known for cult RPGs like Gothic, Risen and Elex, came to light recently by an employee interviewed by the Polish game site CD-Action. It’s suggested that…
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The Embracer Brand Is Disappearing, CEO Refutes Claims It’s Because of Negative Reactions and Disputes
Swedish video game titan Embracer is changing its name and splitting into three separate companies, according to a recent announcement. Present Embracer CEO Lars Wingefors will set up a new holding company to be the majority shareholder of all three companies; the name of this new holding entity has not yet been revealed. Wingefors has…
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Since the start of their “restructuring”, Embracer has dismissed 8% of their worldwide employees.
Embracer has outlined extensive debt restructuring efforts in their interim financial results for Q3 (October-December 2023), having laid off 8% of their global workforce since June 2023 and reducing the number of game projects in development from 224 to 179. CEO Lars Wingefors portrayed the period as “a stable quarter” with Embracer being “on track”…