After Canceling 80 Games in One Year, Embracer CEO Claims Company is Doing Great

Lars Wingefors, CEO of Embracer Group, described the company’s third-quarter performance as reassuring and emphasized that a strong foundation is being built for the company’s future. All of this was said after laying off more than 4000 employees in 2024.

The company’s financial report for the third quarter of fiscal year 2024-2025 was uploaded on February 13. In it, the company outlines its earnings which gives people an idea as to how its business is doing. Compared to the same quarters last year, the company’s net sales took a 3% dip as PC and Console Games sales decreased by 23%.

However, one of the jarring parts about this statement is the previous headcount. In the same quarter last year, there were 12,695 employees in the company. Now, there are only 7,873. This is a 37% decrease year-over-year and in plain numbers, a difference of 4,822.

Despite all of this, Wingefors comments in the recent financial report that the company is in a strong position to create value. The separation of Asmodee from Embracer Group was highlighted in the financial report, saying that the separation will allow Asmodee to focus more on itself. Asmodee is the tabletop division of Embracer Group.

In February 2024, Embracer cut down the jobs of 1400 employees and claims that the company’s overruling principle is to always maximize shareholder value in any given situation. In May of the same year, the same thing happened. Albeit, much more destructive as this month marks Embracer’s firing of more than 4500 employees. Not only that, the company has also canceled 80 game projects as noted in the graph.