Embracer Group Announces Further Restructuring Amid Financial Struggles

The gaming conglomerate plans more layoffs and divestments to reduce debt, despite recent game successes.

Embracer Group has laid off 1,387 employees and canceled 29 unannounced games as part of its restructuring efforts.
The company warns of more layoffs and divestments as it struggles to meet its debt reduction target.
Despite financial challenges, Embracer reports a 4% increase in net sales, reaching $1.15 billion.
The restructuring aims to create a leaner, more focused company, with a shift towards more profitable and established IPs.
Embracer's future strategy includes being more selective in third-party publishing and focusing on owned IPs for increased ROI.