Ubisoft plans to close several studios over the next three years as part of a broader restructuring of the company. The announcement came during the company's financial call on Wednesday as Ubisoft executives discussed refocusing their business around five “creative houses” instead of multiple independent studios.
“We will selectively close several studios and continue restructuring across the group,” Ubisoft CEO Yves Guillemot said in a conference call. “While these decisions are difficult, they are necessary to build a more focused, efficient and sustainable organization over the long term.”
Ubisoft's pivot includes canceling six games in active development, including the long-awaited Prince of Persia: The Sands of Time remake. Other titles included four unannounced projects including three new IPs and a mobile game.
The announcement follows a difficult year for Ubisoft's studio. The news comes amid recent layoffs at the massive studio and the loss of Division executive producer Julian Geraity to DICE.
Prince of Persia and 5 other games canceled by Ubisoft, Assassin's Creed: Black Flag Remake delayed
Ubisoft canceled the remake of Prince of Persia: The Sands of Time, despite expectations that it would be released this year.
The company also closed its Halifax mobile studio and its Stockholm studio earlier this month, and began restructuring its Abu Dhabi and RedLinks studios as the company repositions, Ubisoft CFO Frederic Duguet said on the call.
Game Rant reached out to Ubisoft for clarification around the closure timeline and to see if we can get more information on when the affected studios will be announced, but Ubisoft declined to comment.
What Ubisoft's restructuring really means
The company's restructuring plans were presented with upbeat financial projections.
Duguet shared an indicative net booking figure of €330 million ($385,705,650) for the company's third quarter. Duguet attributed the performance to stronger-than-expected partnerships and described it as a “strong back catalog” even as the company prepares to reduce its studio footprint.
In comparison, Ubisoft reported net bookings of €301.8 million in Q3, and €784 million for the nine months ending in 2024-25, down 33.8% from the previous year. That's $352,745,349 and $916,343,120, respectively.
As a publicly traded company, Ubisoft needs to provide strength to its investors. Still, its positive financial projections, along with announcements of studio closings and layoffs, appear to have dampened the staff affected by the restructuring.
55 people lost their jobs at Massive, 60 at RedLynx and 29 at Abu Dhabi Studios. All Ubisoft studios will also return to office work, CFO Frederic Duguet announced on the call.
Ubisoft is canceling a total of six games in active development. “[These games] Don't meet new enhanced quality expectations under a more selective portfolio approach,” Duguet said, without elaborating on the game titles.
In addition, an “important game” is being delayed from this year to another, Duguet revealed, although he said he could not provide further details at this time. Seven other titles were also delayed.
Ubisoft is putting all of its eggs into this new creative house initiative, splitting its franchises into autonomous, independent studios that have full control over Ubisoft's flagship franchises. The company wants to return to “strong cash flow generation” within the next three years under the new plan, Duguet said.
Each of these creative houses will cover a different genre. Genres include its flagship series, cooperative shooters, games as a service, fantasy, story-driven experiences, and family-friendly games.
Vantage Studios, a subsidiary of Ubisoft and a studio in which Chinese conglomerate Tencent holds a 26% financial interest, will take control of Ubisoft's most recognized franchises such as Assassin's Creed, Far Cry, and Rainbow Six, “with the goal of turning them into annual billionaire brands,” the company said in its press release.
Other houses will break up the remaining franchises.
Ubisoft holds its quarterly earnings call next month on February 12, where there may be new information about layoffs and specific game delays.
