Ubisoft Cuts 45 More Jobs In Latest Round Of US Studio Layoffs
Portfolio Pulse from Franca Quarneti
Ubisoft Entertainment SA has laid off 45 employees from its U.S. studios as part of ongoing restructuring efforts. The layoffs affected staff at Ubisoft San Francisco and Red Storm Entertainment, following previous cuts earlier in the year. Despite these setbacks, Ubisoft reported record net bookings and increased net sales for 2023.
August 19, 2024 | 5:23 pm
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Ubisoft's recent layoffs of 45 employees in its U.S. studios are part of a restructuring effort. Despite these cuts, the company reported strong financial results for 2023, with record net bookings and increased net sales.
The layoffs are part of a broader restructuring strategy, which is common in the gaming industry. However, Ubisoft's strong financial performance in 2023, with record net bookings and increased sales, suggests that the layoffs may not have a significant negative impact on the stock price in the short term.
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