Embracer restructuring to involve closing studios, reducing general overhead

Embracer said its restructuring program’s main focus areas are capex and opex savings, capital allocation, and efficiency improvements. Actions will cover, but are not limited to: Matthew Karch appointed interim Chief Operating Officer, and Phil Rogers appointed interim Chief Strategy Officer, to co-lead the program planning and implementation; Reduction of general overhead, corporate, publishing and SG&A costs; The closing of studios and termination of projects, that have not yet been announced and with low projected returns; Creation of a more comprehensive, centralized process for game investment and progress review, while maintaining creative freedom; Consolidation of companies and businesses, including review of operative group structures; Reduction of investments into external development with greater focus on internal development based on owned or controlled IP; Increased external funding of internally developed, large-budget games; Renewed focus on the Group’s main business areas, and; Implementing a centralized and standardized, more data-driven and precise approach to game forecasting.