Ubisoft shares plummet after Assassin’s Creed maker unveils reorganization, cancels six games
The games designer saw stock plunge on Thursday, following years of share price decline.
TL;DR
- Ubisoft shares dropped 34% following announcements of major organizational changes.
- The company plans to close studios in Halifax, Nova Scotia, and Stockholm, and restructure others.
- Six games are set to be axed as part of the shake-up.
- Ubisoft expects an operating loss of around 1 billion euros for the financial year ending 2026.
- The company will consider selling assets.
- Cost-cutting measures are expected to save 500 million euros annually by March 2028.
- Net bookings guidance for the financial year ending 2026 has been lowered.