Latest news with #Embracer
Time of India
02-07-2025
- Business
- Time of India
Microsoft cuts thousands of jobs in latest layoff wave amid major AI push & exec shake-up; CCO goes on sabbatical
Microsoft has initiated another large-scale workforce reduction, confirming it will lay off more than 9,000 employees globally. This move, which affects nearly 4% of its 228,000-strong global workforce, marks the third major round of job cuts by the company in 2025. The layoffs are part of Microsoft's continuing effort to restructure operations and shift its focus toward artificial intelligence-driven growth. AI push drives organisational changes In an official statement, a Microsoft spokesperson said, 'We continue to implement organizational changes necessary to best position the company and teams for success in a dynamic marketplace.' The company highlighted that even under favourable market conditions, regular adjustments in staffing have been part of its business strategy. Microsoft has stated that it aims to empower employees by leveraging new technologies that allow them to focus on more meaningful work, indicating a broader integration of AI across all its services and departments. The latest layoff round follows cuts made earlier this year. In May 2025, Microsoft reduced its workforce by about 6,000 employees, followed by another smaller round weeks later. The current layoffs are expected to primarily affect the sales and marketing departments, although no specific regions were mentioned. Judson Althoff on sabbatical amid changes In a related development, Microsoft's Chief Commercial Officer, Judson Althoff, has taken an eight-week sabbatical. The leave, as confirmed by the company, was pre-scheduled and aligns with the end of Microsoft's fiscal year, which closed on June 30, 2025. Althoff is expected to resume his duties in September. Sorry to hear about the layoffs at over at Microsoft Like the mass layoffs, studios closures and Game Cancellations at PlayStation , Embracer & others these are never good nor should be celebrated or used for Console everyone lands on their feet soon. The timing of the sabbatical has drawn attention within the industry, as it coincides with the period of significant internal restructuring. While Microsoft has not indicated any link between Althoff's absence and the workforce changes, the overlap has prompted speculation among analysts and insiders. More layoffs may follow in Xbox division According to an earlier Bloomberg report, Microsoft may also be preparing additional layoffs in its gaming division, particularly within Xbox. If implemented, this would mark the fourth major layoff round at Microsoft in just 18 months, underscoring the scale of internal changes taking place. Meanwhile, the news of potential job cuts had an immediate, albeit minor, effect on Microsoft's stock performance. On Wednesday, Microsoft's intraday share price slipped by 0.68%, from $493.50 to $490.37. As of 11:00 a.m. EDT, shares were trading at $491.74, slightly down from the previous day's close of $492.05, according to MarketWatch data.
Reuters
05-06-2025
- Business
- Reuters
CD Projekt launches Cyberpunk 2077 game on Nintendo Switch 2
GDANSK, June 5 (Reuters) - Poland's biggest game developer CD Projekt ( opens new tab said on Thursday that "Cyberpunk 2077: Ultimate Edition" had been launched on the Nintendo Switch 2 console, bringing it to Nintendo players for the first time. Back catalogue sales have become more important for developers due to the increasing number of delays to new games. Last month, Tomb Raider owner Embracer ( opens new tab said it was leaning on its back catalogue to maintain cash flow while fewer games are being released. Since the release of "Phantom Liberty" expansion to "Cyberpunk 2077" in September 2023, CD Projekt has been relying on sales of existing games from its back catalogue. Erste Group analyst Krzysztof Tkocz said in a note to clients that the release on Nintendo Switch 2 "will have a significant impact on the company's results in second quarter and subsequent quarters". Gaming fans queued up for the launch of Nintendo's (7974.T), opens new tab Switch 2 on Thursday amid pent-up demand for the more powerful next-generation gaming device. "We expect that this could be one of the most popular 3rd party games at the launch of the new console", Trigon DM analyst Grzegorz Balcerski said in a note to clients. The price of the game has been set at $69.99 for Nintendo Switch 2.
CNA
05-06-2025
- Business
- CNA
CD Projekt launches Cyberpunk 2077 game on Nintendo Switch 2
GDANSK :Poland's biggest game developer CD Projekt said on Thursday that "Cyberpunk 2077: Ultimate Edition" had been launched on the Nintendo Switch 2 console, bringing it to Nintendo players for the first time. Back catalogue sales have become more important for developers due to the increasing number of delays to new games. Last month, Tomb Raider owner Embracer said it was leaning on its back catalogue to maintain cash flow while fewer games are being released. Since the release of "Phantom Liberty" expansion to "Cyberpunk 2077" in September 2023, CD Projekt has been relying on sales of existing games from its back catalogue. Erste Group analyst Krzysztof Tkocz said in a note to clients that the release on Nintendo Switch 2 "will have a significant impact on the company's results in second quarter and subsequent quarters". Gaming fans queued up for the launch of Nintendo's Switch 2 on Thursday amid pent-up demand for the more powerful next-generation gaming device. "We expect that this could be one of the most popular 3rd party games at the launch of the new console", Trigon DM analyst Grzegorz Balcerski said in a note to clients. The price of the game has been set at $69.99 for Nintendo Switch 2.
Reuters
22-05-2025
- Business
- Reuters
Embracer leans on back catalogue as game delays shake industry profits
May 22 (Reuters) - Tomb Raider owner Embracer ( opens new tab is leaning on its back catalogue to maintain cash flow while fewer AAA games are being released, but this is not a long-term shift, CEO Lars Wingefors said on Thursday. As game development becomes slower, riskier and more expensive, studios are facing growing pressure to justify their budgets for major releases in a market where consumer sentiment and profitability are wearing thin. "I think it's more important than ever to make sure the game is polished because it's very hard to repair a buggy or unfinished product," Wingefors told Reuters. French peer Ubisoft ( opens new tab showed a similar approach with its newest Assassin's Creed game, which debuted with positive reviews on Steam after being delayed twice. Gaming groups thrived during COVID lockdowns, but delays and weak demand have hit Embracer's new titles, pushing it to lean on older games seen as a safer bet amid faltering blockbusters. It has sold studios to cut costs and manage debt in recent years, and is now splitting into three listed companies. On Thursday, it forecast slight revenue growth and broadly unchanged earnings for its fiscal 2025/26, and said that realistically, at least one of its nine AAA game releases slated for the following two financial years would be pushed back, without specifying titles. Studios are pouring time and money into increasingly complex games, but returns are hit-or-miss and long delays mean many will not see cash back until much later. On top of it, fewer games break through and slower cash generation strains studios, which has made older titles a more attractive and dependable revenue stream for some. Ubisoft recently delayed key titles and pushed profitability expectations to 2026, underscoring sector challenges in converting content into cash. It told Reuters it planned to be more selective and turn blockbusters into "evergreen" franchises that generate steady revenue long after launch. "We will still look to create some new IPs, but will be more discerning in favour of gameplay breakthroughs based on disruptive or emerging technologies," Ubisoft said. Wingefors also said that tools like AI could boost efficiency over time in minor titles, with the industry rapidly adopting them to improve energy gains and technology sales. ($1 = 9.5615 Swedish crowns)
CNA
22-05-2025
- Business
- CNA
Embracer leans on back catalogue as game delays shake industry profits
Tomb Raider owner Embracer is leaning on its back catalogue to maintain cash flow while fewer AAA games are being released, but this is not a long-term shift, CEO Lars Wingefors said on Thursday. As game development becomes slower, riskier and more expensive, studios are facing growing pressure to justify their budgets for major releases in a market where consumer sentiment and profitability are wearing thin. "I think it's more important than ever to make sure the game is polished because it's very hard to repair a buggy or unfinished product," Wingefors told Reuters. French peer Ubisoft showed a similar approach with its newest Assassin's Creed game, which debuted with positive reviews on Steam after being delayed twice. Gaming groups thrived during COVID lockdowns, but delays and weak demand have hit Embracer's new titles, pushing it to lean on older games seen as a safer bet amid faltering blockbusters. It has sold studios to cut costs and manage debt in recent years, and is now splitting into three listed companies. On Thursday, it forecast slight revenue growth and broadly unchanged earnings for its fiscal 2025/26, and said that realistically, at least one of its nine AAA game releases slated for the following two financial years would be pushed back, without specifying titles. GAME DELAYS SHAKE INDUSTRY PROFITS Studios are pouring time and money into increasingly complex games, but returns are hit-or-miss and long delays mean many will not see cash back until much later. On top of it, fewer games break through and slower cash generation strains studios, which has made older titles a more attractive and dependable revenue stream for some. Ubisoft recently delayed key titles and pushed profitability expectations to 2026, underscoring sector challenges in converting content into cash. It told Reuters it planned to be more selective and turn blockbusters into "evergreen" franchises that generate steady revenue long after launch. "We will still look to create some new IPs, but will be more discerning in favour of gameplay breakthroughs based on disruptive or emerging technologies," Ubisoft said. Wingefors also said that tools like AI could boost efficiency over time in minor titles, with the industry rapidly adopting them to improve energy gains and technology sales.
