The number of layoffs in the international games industry doesn’t seem to end. Now the British publisher Team17 is facing massive restructuring measures. In other words: tons of workers will have to take off their hats. At least Astragon Entertainment is at stake for the moment in Düsseldorf.
The videogame industry has seen several cuts, studio closures and the dreaded restructuring in 2023. The Embracer group often attracts a negative attention, for example through a layoff at Plaion and the extinction of traditional game companies such as Volition. The German studio Daedalic had to close its doors and Relic Entertainment lost 121 employees in the last few weeks.
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We have bad news coming from the Great Britain. According to well-informed sources, British indie publisher Team17 will lay off much more employees than the company previously said. According to the Eurogamer and other media, not only 50 companies will take control of quality assurance.
Accordingly, the management spoke of significant layoffs for approximately 400 employees. The resignation of the company’s CEO, Michael Pattison, has already been confirmed and, according to officials, was decided by mutual agreement. During this phase, a new restructuring was being planned.
The leadership of Team17 cites the reason they suffer from competitive pressure and falling prices. While the half-year figures were good, the share price has fallen sharply recently and is worth a third of the top 10 right now.
Astragon Entertainment isn’t specifically concerned with Dusseldorf simulation studio. Team 17 took over that in January 2022 for a proud sum of 100 million euros.
Team 17 has been a major player in the European gaming landscape for many years. With such brands as Worms, Overcooked, Moving Out and Golf with your Friends, the company managed to attract stronger audiences on the indie segment.
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