Episode 163: Embracer Group Claims Layoffs are How “We Will Win” (News Show)

Embracer Group gorged itself during the pandemic when debt was cheap. Now, it’s scrambling to lay off hundreds of people to “win.” Also, Circana report for October, Epic wins against Google, and more. You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise! TIME STAMPS [00:04:03] - Embracer Group Q2 Earnings [00:20:32] - Starbreeze Q3 Earnings [00:24:59] - Epic wins in court against Google [00:27:27] - Circana U.S. Video Game Spending Report for October 2023 [00:33:18] - Investment Interlude [00:45:08] - Quick Hits [01:11:01] - Labor Report SOURCES EMBRACER GROUP PUBLISHES INTERIM REPORT Q2 | Embracer Group Embracer: Human cost of restructure is "significant" but "necessary" | GamesIndustry Starbreeze Q3 FY24 Earnings Report | Starbreeze Epic win: Jury decides Google has illegal monopoly in app store fight | The Verge Humble Games lays off "valued colleagues" as restructuring begins | Game Developer Digital Bros Group announces an organizational review, with an expected workforce reduction of approximately 30% | Digital Bros Kongregate, Digital Bros. cut jobs in a growing wave of video game industry layoffs | Polygon Phoenix Labs lays off 34 staff | GamesIndustry Trading Update and Litigation Settlement | TinyBuild F1 Developer Codemasters Suffers Round of Layoffs | Insider Gaming Embracer lays off 50 more employees and may soon close resurrected TimeSplitters studio Free Radical Design | PC Gamer TimeSplitters studio Free Radical Design closed today, staff say | Eurogamer Insurgency developer New World Interactive affected by layoffs | GamesIndustry League of Geeks lays off 50% of its staff - but does so with compassion | League of Geeks (@leagueofgeeks) on Twitter Rovio closes Studio Lumi | GamesIndustry TripleTopping is Closing | Astrid Refstrup (@AstridMie) on Twitter CD Projekt voluntarily recognizes Polish developer union | Game Developer QA staff at Xbox support dev Experis successfully vote to unionize | Game Developer INVESTMENT INTERLUDE AONIC ACQUIRES NDREAMS FOR $110 MILLION | Ndreams Mobile publisher Nordcurrent acquires River End Games | Game Developer Call of Duty developer Infinity Ward opens new Texas studio | Game Developer Hearst Newspapers Acquires Puzzle Games Platform Puzzmo | Hearst ByteDance says to restructure Nuverse in retreat from gaming business | Reuters ReedPop seeks buyer for Eurogamer, GI, VG247, Rock Paper Shotgun and more | GamesIndustry