Embattled IP hoarder Embracer Group has announced the departure of Chief Operations Officer Egil Strunke, who leaves the company amidst a larger restructuring comprised of layoffs, cancellations, and studio closures.
In a statement, Strunke confirmed the news of his departure, revealing that he had "mixed feelings" about the entire affair, as he left behind longtime friends and colleagues to start and build his own company, called Strunke Games. He says, of recent events at Embracer:
"Although the last year has been rough, in line with general market changes and industry consolidation, I am positive that Embracer will come out stronger and with a long, bright future ahead of them."
Tomb Raider developer Crystal Dynamics wasn't safe from layoffs despite initially seeming to emerge from the fray unscathed. Embracer has reportedly also been in talks to sell Gearbox, the developer behind the Borderlands franchise, amongst others.
What do you think the future looks like for Embracer? Will 2024 see the company right the ship, or are more black clouds on the horizon? Let us know which direction you think the wind is blowing in the comments section below.
[source videogameschronicle.com]
Comments 17
some one should buy embracer group tons of studios and IP market cap 2.26 billion
Embracer is one of the most pathetic mismanaged companies I have ever seen lol
@BobaTheFett It is not mysterious, it's bassicaly THQ.
Let’s hope Mr Strunke employs all the good people let go by Embracer group.
The world needs some good deeds right now.
When I realized that Duke Nukem and Welcome to Bloxburg (Roblox) were under the same company, I knew this company was doomed.
Like come on. You buy one of the most iconic and beloved video game franchises of all time, but also own Duke Nukem. Disaster was inevitable.
Would rather them sell than to close studios to be honest.
@BobaTheFett Studio owner can cash out. Usually they have the knowledge that they're teetering on the edge and might be shuttering in a year anyway.
Take the payout for yourself and ensure your staff also get paid for a bit longer.
@Exerion76
Sir, this is a Burger King.
Whoever came up with "Embattled IP hoarder" deserves a raise lol
“Well, my work here is done.”, he thought to himself before moving on to ruin the next thing.
@BobaTheFett I'd say its grey. It's definitely greed, I wont debate that at all. The payout has these executives eyes popping out of their heads like Will-E-Coyote.
But I think its possible they know that they're potentially screwed without the deal, and this is better than the alternative. I believe recently some staff at Bungie, post-layoffs, have said that with the state Destiny 2 was in, the company would have had significant financial issues without the Sony Acquisition
What a joke of a publisher. I've never seen a gaming company so horribly managed in my life. I feel bad for all the devs that have to work under these clowns.
@BobaTheFett I'm sure most dev's would go with a better company if they had the option.
However i think the decision is simply, take their money and try and make another game, or go it alone already knowing we're not in a great place financially. I think its the safer option.
Please not I'm not saying Embracer is good. I think they're a mismanaged dumpster fire who have absolutely no idea what they're doing.
@BobaTheFett
depends what you consider early days I suppose.
@BobaTheFett You mean when they switched to being called Embracer, from THQ Nordic? Or before then?
@BobaTheFett I think they started prior but made the name change when they started getting really aggressive to distinguish themselves from THQ (known as a publisher) so Embracer would be known as a holding company.
Honestly I'm just reading their wiki page back and it's long and confusing, about 4 different companies, 3 renames and a few spin off companies.
Definitely a bit of a mess!
@BobaTheFett you have to actually make some games to sell eventually though! You can only get those game pass cheques for old games you suck up a few times.
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