The Embracer Group has drastically cut costs, canceling games, laying off workers, and shutting down studios in the last six months. Around 900 employees, approximately five percent of the workforce, were let go in the three months leading to September 30. Additionally, Embracer laid off about 50 workers from Chorus developer Fishlabs.
There are also concerns for Free Radical Design, which may be shut down by December 11. Embracer CEO Lars Wingefors expressed gratitude to the staff, acknowledging the challenging time and emphasizing support during the transition.
The studio, based in Nottingham, England, is subject to a 30-day consultation period under UK law before any layoffs can occur. There is a possibility of a new owner stepping in to keep Free Radical open. Many workers have updated their LinkedIn profiles in search of new opportunities, with offers from other studios reportedly coming in.
Free Radical, the original developer of the TimeSplitters series, was brought back under Plaion division Deep Silver two years ago to work on a new game in the series. The fate of the current TimeSplitters project is uncertain if Free Radical shuts down.
Embracer has also closed other studios, such as Volition, and is reported to be selling others like Gearbox, which it acquired in a $1.4 billion deal in 2021.
