Zen Studios has become the latest studio owned by Embracer Group to be hit with layoffs.
Zen Studios, which was founded in 2003, employed 65 developers when Embracer acquired it in 2020 through its subsidiary Saber Interactive.
A spokesperson for Embracer told GamesIndustry.biz the company wouldn’t comment on specific studios, but reiterated its previous statement about its ongoing restructuring.
Embracer announced in May that a major deal had fallen through unexpectedly at the last minute, causing it to slash its earnings forecast. The deal was reportedly a $2 billion partnership with the Saudi government-funded Savvy Games Group.
This led to Embracer announcing in June that it was implementing a “restructuring program” which would involve “the closing of studios and termination of projects”.