The Embracer Group has been struggling with financial issues in recent months, having failed to close an undisclosed deal worth $2 billion earlier in the year, in the wake of which the company announced that it would be shuttering studios, laying off employees, and cancelling unannounced games as part of a widespread restructuring program.
The impacts of that program are now being felt at Tomb Raider and Marvel’s Avengers studio Crystal Dynamics as well, which was acquired by Embracer Group in August of last year. Taking to Twitter, the studio recently confirmed that it has laid off a total of ten employees – nine in the brand/marketing department and one in IT – due to “an internal restructuring to align the studio with current business needs”.
“We are working directly with the affected staff to fully support them,” the studio wrote.
Crystal Dynamics currently has two major projects in the works. Though Marvel’s Avengers is shutting down imminently, it’s currently co-developing Perfect Dark with Xbox studio The Initiative, and has also started development on the next Tomb Raider game, which is set to be published by Amazon Games. Earlier this year, Crystal Dynamics assured that Embracer Group’s restructuring would have “no impact” on the development of either title.
Recently, Embracer Group also announced the shuttering of Saints Row and Red Faction developer Volition (though both franchises will supposedly live on under other developers), while recent reports have claimed that the company is also exploring a potential sale of Borderlands company Gearbox Entertainment.
— Crystal Dynamics (@CrystalDynamics) September 20, 2023