Embracer CEO confirms TimeSplitters studio faces closure before Christmas
Embracer CEO confirms TimeSplitters studio faces closure before Christmas
Free Radical Design staff are currently in a consultation…
this seems soon-to-be the Embracer cut. this company fucking sucks man. hate this shit
VGC reported earlier this month that Free Radical was at threat of being closed just two years after it was established, as part of huge company-wide cuts at Embracer and its owned publishers.
Although Embracer has yet to publicly confirm Free Radical's position, sources told VGC that Wingefors has now acknowledged in a company e-mail that the Nottingham, UK-based company could be closed on December 11, following the completion of a consultation process.
17Why did they buy up everything ? Seemed to fall apart pretty quickly
19They bought everything up because loans were cheaper and this positions Embracer as a strong IP holder. They now have lots of IPs they own and while you might think "Well they got no one to make the IPs for them!" that might be true in-house, although they certainly have plenty of successful studios still they are busy they have their pick of IPs. Additionally, you can license out IPs for a lot of money with additional funding from the actual sale of the game while a third-party publisher foots the bill entirely.
11They were hoping to be bought up by a Saudi company but the deal fell through
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And Embracer claims another victim. It feels like they aren't going to have many studios left when they finish their "restructuring" process. At least Wingefors was nice enough to acknowledge that the employees, who might be about to lose their jobs, are going through a slightly more challenging time than the executives who are deciding which studio is next on the chopping block.
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