Episode 163: Embracer Group Claims Layoffs are How “We Will Win” (News Show)
Release Date: 12/15/2023
Virtual Economy
Atari has finally driven its mortal enemy, Intellivision, and heard the lamentations of its pixels. Also: So. Many. Earnings. We’re covering Sony, Square Enix, Ubisoft, Take-Two, and Embracer. Also, a number of new studios were founded as the labor winter trudges on. You can support Virtual Economy’s growth via our and also purchase! TIME STAMPS [00:02:32] - Sony Q4 and full year FY23 Earnings [00:17:46] - Square Enix Q4 and full year FY24 Earnings [00:25:29] - Ubisoft Q4 and full year FY24 Earnings [00:31:04] - Take-Two Q4 and full year FY24 Earnings [00:42:40] - Embracer Group Q4...
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info_outlineEmbracer Group gorged itself during the pandemic when debt was cheap. Now, it’s scrambling to lay off hundreds of people to “win.” Also, Circana report for October, Epic wins against Google, and more.
You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!
TIME STAMPS
- [00:04:03] - Embracer Group Q2 Earnings
- [00:20:32] - Starbreeze Q3 Earnings
- [00:24:59] - Epic wins in court against Google
- [00:27:27] - Circana U.S. Video Game Spending Report for October 2023
- [00:33:18] - Investment Interlude
- [00:45:08] - Quick Hits
- [01:11:01] - Labor Report
SOURCES
- EMBRACER GROUP PUBLISHES INTERIM REPORT Q2 | Embracer Group
- Embracer: Human cost of restructure is "significant" but "necessary" | GamesIndustry
- Starbreeze Q3 FY24 Earnings Report | Starbreeze
- Epic win: Jury decides Google has illegal monopoly in app store fight | The Verge
- Humble Games lays off "valued colleagues" as restructuring begins | Game Developer
- Digital Bros Group announces an organizational review, with an expected workforce reduction of approximately 30% | Digital Bros
- Kongregate, Digital Bros. cut jobs in a growing wave of video game industry layoffs | Polygon
- Phoenix Labs lays off 34 staff | GamesIndustry
- Trading Update and Litigation Settlement | TinyBuild
- F1 Developer Codemasters Suffers Round of Layoffs | Insider Gaming
- Embracer lays off 50 more employees and may soon close resurrected TimeSplitters studio Free Radical Design | PC Gamer
- TimeSplitters studio Free Radical Design closed today, staff say | Eurogamer
- Insurgency developer New World Interactive affected by layoffs | GamesIndustry
- League of Geeks lays off 50% of its staff - but does so with compassion | League of Geeks (@leagueofgeeks) on Twitter
- Rovio closes Studio Lumi | GamesIndustry
- TripleTopping is Closing | Astrid Refstrup (@AstridMie) on Twitter
- CD Projekt voluntarily recognizes Polish developer union | Game Developer
- QA staff at Xbox support dev Experis successfully vote to unionize | Game Developer
INVESTMENT INTERLUDE
- AONIC ACQUIRES NDREAMS FOR $110 MILLION | Ndreams
- Mobile publisher Nordcurrent acquires River End Games | Game Developer
- Call of Duty developer Infinity Ward opens new Texas studio | Game Developer
- Hearst Newspapers Acquires Puzzle Games Platform Puzzmo | Hearst
- ByteDance says to restructure Nuverse in retreat from gaming business | Reuters
- ReedPop seeks buyer for Eurogamer, GI, VG247, Rock Paper Shotgun and more | GamesIndustry