- cross-posted to:
- games@sh.itjust.works
- cross-posted to:
- games@sh.itjust.works
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Do we see also cuts in the management who pretty much created this fucking situation? Why is always the normal people who have to go necessarily, but the management stays.
That’s how capitalism works 🤑
Well fuck capitalism then…
Embracer has done nothing but buy and buy so yes, they totally made it.
They do not have the quality titles to support their stream of acquisitions.
They do not have the quality titles to support their stream of acquisitions.
of course not, they thought they would be bought up by some saudis and that deal went sour. At least the people responsible for that stupid deal need to be fired.
Bunch of moron execs go on an industry buying spree, is shocked when the infinite money dries up, kills the jobs they bought. Embracer are truely awful.
Embracer CEO’s 2023 Q1 interim report:
In Q1, we achieved organic growth of 20 % and Adjusted EBIT of SEK 1.7 billion. In recent months, we have released two successful sequels, Dead Island 2 and Remnant II. We now have increased confidence regarding earnings this year and we are on track to deliver on the restructuring program announced on June 13, 2023, with a series of initial actions now taken. Even though it’s a challenging time for everyone impacted, I am confident we will emerge a stronger company.
Embracer’s Q1 Net sales grew by 47 % to SEK 10.5 billion. Organic growth amounted to 20 %, driven by solid performance for Dead Island 2 in the PC/Console Games segment, as well as solid topline development in the Tabletop Games and Entertainment & Services segments. Adjusted EBIT came in at SEK 1.7 billion, representing a notable improvement sequentially. The Q1 result is also ahead of management expectations for the quarter. The positive sequential margin development in the quarter is a result of how we deliver on our games pipeline, and our Q1 execution builds a strong foundation to further improve the margin during the year after a challenging FY 2022/23.
Tl;dr: it wasn’t necessary.
Fuck off.
Agreed
Where are all the people know who always jump into the comments to say stuff like “let’s wait and see before we assume this massive evil corporation buying our favorite cool small game development company is going to end badly. Personally I bought stock in the massive evil corporation because I was excited and they said they wouldn’t change or ruin anything about my beloved game company so what are you worried about?”
I always get shouted down by them when I point out that this always ends the same exact way every single time.
Only if he goes first.
