Gaming giant Ubisoft has let 45 staffers go from two of its US studios as part of a restructuring effort.
The two affected studios are Red Storm Entertainment and Ubisoft San Francisco, which mostly produce older-skewing shooter and adventure games. The massive company, which employs more than 20,000 people, also owns kid-friendly franchises that it has expanded into animated TV, including Rabbids and Rayman.
In January 2023 after a weak earnings report, the company began implementing a “cost-reduction plan” that has resulted in over 1,000 layoffs, including 70 worldwide in 2024. In the 2022/2023 fiscal year, Ubisoft generated US$1.9 billion in annual revenue, which was down 18% from 2021/2022, according to its 2023 press kit.
However, this year the video game developer seems to be doing better financially. In Q1 of 2024, Ubisoft earned US$237 million in sales revenue, up 12% from the year before, and it’s expecting a strong 2024/2025 thanks to the release of Star Wars Outlaws (pictured, which launches on August 30) and a new Assassin’s Creed game.