Embracer Group canceled 29 unannounced games during six months last year, the company confirmed on Thursday.
In June 2023, the company announced that it was implementing a restructuring plan that included studio closures and project cancellations.
In the first fiscal quarter ended in June, there were 153 unannounced games in development from both internal and external studios that the company financed. That number fell to 138 in the second quarter and to 124 in the third quarter ended December.
The restructuring also resulted in 1,387 job cuts, or about 8% of the company’s total workforce, during the six months ended December. This included layoffs of 871 internal game developers, 252 internal non-developer developers, and 264 external developers.
As of December, Embracer had 132 internal game studios, down from 139 six months earlier, and 50 external studios, down from 59.
Today, Embracer CEO Lars Wingefors said the company’s restructuring plan was entering the “final stages” but warned that more cuts were possible in the future as the company looks to sell off more assets.