The video game industry has been beset with layoffs and canceled projects in 2024, and one company in particular, Embracer, has received a wave of criticism for laying off staff, closing studios, and cancelling games after a huge hiring spree and growth period years earlier.
Embracer CEO Lars Wingefors said in a new interview that, as the CEO, he deserves criticism. But he says there is a job to be done, and he’s plodding ahead to try to “always maximize shareholder value in any given situation.”
“It’s been painful,” he told GI.biz. “But I still believe in what we do, I believe in my teams and the vision we set out. I also believe the public markets, if we do it right, are a fantastic place to finance your business and tap into both investors and the debt market.