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Embracer Group - Embracer Group is restructuring to reduce costs. This will lead to layoffs, studio closures, and project cancellations.

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Derek Strickland @DeekeTweak Embracer Group is restructuring to reduce costs. This will lead to layoffs, studio closures, and project cancellations. Actions will cover, but are not limited to: • 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 2:07 AM Jun 13, 2023 148K Views . Actions will cover, but are not limited to: • 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

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