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Ubisoft is canceling game projects, shutting down studios and cutting its guidance as the Assassin's Creed maker restructures its business into five units. From a report: The French gaming firm expects earnings before interest and tax to be a loss of $1.2 billion the fiscal year 2025-2026 as a result of the restructuring, driven by a one-off writedown of about $761 million, the company said in a statement on Wednesday.
Ubisoft also expects net bookings of around $1.76 billion for the year, with a $386 million gross margin reduction compared to previous guidance, it said. Six games, including a remake of Prince of Persia The Sands of Time, have been discontinued and seven other unidentified games are delayed, the company said. The measures are part of a broader plan to streamline operations, including closing studios in Stockholm and Halifax, Canada. Ubisoft said it will have cut at least $117 million in fixed costs compared to the latest financial year by March, a year ahead of target, and has set a goal to slash an additional $234 million over the next two years.
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