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Cookie banner We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. To learn more or opt-out, read our By choosing I Accept, you consent to our use of cookies and other tracking technologies. Swedish gaming conglomerate Embracer Group, which has been rapidly gobbling up game studios and popular IP over the past few years, will undergo a major restructuring that will require the publisher to close multiple studios and cancel several games. The news comes weeks after it reported that a deal worth $2 billion in income to the company had unexpectedly fallen through. CEO Lars Wingefors announced the restructure in Matthew Karch, the now former Saber Interactive CEO and current interim chief operating officer, said, however, that the first phase of cost-saving will be “immediate and noticeable.” This means that an unknown number of Embracer Group’s 17,000 staff will be laid off as part of the process. Neither Wingefors nor Embracer Group have detailed when specific closures or layoffs will happen. Polygon has reached out to the publisher for more information. “Embracer currently engages close to 17,000 people and while that number will be lower by the end of the year, it is too early to give an exact forecast on this,” Wingefors said in the letter. Karch said the studios to be closed are “underperforming,” or not creating games...