As a seasoned gamer with decades of gaming under my belt, I can’t help but feel a pang of sadness when yet another studio falls victim to the turbulent tides of the video game industry. Having witnessed the rise and fall of countless studios over the years, it’s become all too familiar to see announcements like these.
Over the past couple of years, The Embracer Group has faced a tumultuous stretch marked by declining sales, studio closures, as well as a significant number of job losses and layoffs. Regrettably, yet another studio under their management is experiencing layoffs, which isn’t even their first round this year.
In a recent update on LinkedIn, Lost Boys Interactive, known for projects like Tiny Tina’s Wonderlands and Diablo 4, announced a reduction in their workforce. The exact number of positions affected by this round of layoffs wasn’t disclosed, but the studio cited “changing market dynamics within the video game industry” as the reason, stating that these conditions have necessitated a reassessment of their operations to better match the changing needs of their business and partners.
Today poses a tough choice for Lost Boys Interactive, as we grapple with the need to downsize our team, shared Shaun Nivens, CEO of Lost Boys Interactive. Aware of the ripple effects this move may have on our valued employees, who’ve played a crucial role in our achievements, such decisions aren’t taken lightly. We’ve explored every possible alternative before arriving at this point. Our pledge is to assist them as best we can throughout this transition period.
In simpler terms, Lost Boys Interactive has mentioned that their ongoing collaborative project is unaffected, and they plan to pursue more development projects in the future.
Earlier this year, in January, Lost Boys Interactive underwent another wave of job reductions. Before these consecutive layoffs, the company had around 400 employees on its payroll. Now, it has more than 200 people working for them.
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2024-09-10 00:10