Ubisoft plunges into losses
The video game firm expects to turn its net loss into an operating profit on the order of 400 million euros through a cost-cutting plan that aims to reduce staff levels and shed assets.
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Ubisoft, the French video game publishing firm, has reported a net loss of $537 million in 2022-2023 due to the delay of video game titles like Mirage, the Assasins' Creed franchise, and Avatar: Frontiers of Pandora.
The video game firm expects to turn its net loss into an operating profit on the order of 400 million euros in the current financial year, which ends next March: through a cost-cutting plan that aims to reduce staff levels and shed assets.
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However, the reduced staff levels policy will reportedly be mitigated by a raise for the staff working on Assassin's Creed: which is expected to make numbers in the coming years when several titles of the franchise will be released.
"As part of our progressive reallocation of resources, we notably plan to increase the number of talents working on the Assassin’s Creed brand by 40 percent over the coming years," said CEO Yves Guillemot.
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