Ubisoft CEO admits the company spun up "too many projects" which are now widely canceled in the fallout from bad bets during Covid

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"Cost reductions will include selective restructuring across the company"

Prince of Persia: The Sands of Time
(Image credit: Ubisoft)

Ubisoft CEO Yves Guillemot says that the company anticipated "sustained demand that didn’t fully materialize" post-Covid, which motivated the launch of "too many projects and increased complexity." This news comes less than 24 hours after 40 people were laid off at Ubisoft Toronto.

In an interview with Variety, where Guillemot is asked if Ubisoft would be "undergoing layoffs, beyond the 200 proposed reductions with the voluntary departure plan," he begins his response with, "as we announced, the €200 million in additional cost reductions will include selective restructuring across the company."

"Following the post-Covid period, the industry grew very quickly, anticipating sustained demand that didn’t fully materialize," he says. "On our part, this led to too many projects and increased complexity. Our priority today is to build a more focused, agile company, with stronger teams that strike the right balance between senior expertise and young talent and who are well positioned to deliver the highest quality games."

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George Young
George Young
Freelance News Writer

Freelance writer, full-time PlayStation Vita enthusiast, and speaker of some languages. I break up my days by watching people I don't know play Pokemon pretty fast.

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