Virtuos, a prominent game developer recognized for projects such as the acclaimed The Elder Scrolls IV: Oblivion Remastered, has announced a restructuring initiative that will result in significant layoffs. A company spokesperson informed Eurogamer that approximately 7% of Virtuos`s global workforce is affected by these dismissals. These measures primarily impact teams experiencing reduced workload and decreased demand, attributed to ongoing structural shifts within the gaming industry.
The layoffs will affect around 200 individuals in Asia and 70 in Europe. Notably, fewer than 10 employees at Virtuos`s French office, which contributed to Oblivion Remastered, are among those impacted.
Virtuos expressed gratitude for the contributions of the affected staff, stating that severance packages, career transition assistance, and redeployment opportunities within their global network will be provided where feasible. The company`s immediate priority is to manage this transition with utmost care, transparency, and respect.
In addition to Oblivion Remastered, Virtuos is actively involved in the development of Metal Gear Solid Delta: Snake Eater and ongoing updates for Cyberpunk 2077, alongside numerous other projects. Globally, the Singapore-based Virtuos and its subsidiaries employ over 4,000 individuals, bringing the total number of anticipated layoffs to roughly 280.
The spokesperson further emphasized Virtuos`s commitment to continued investment in global delivery, technical excellence, and creative collaboration, aiming to remain the preferred partner for leading game creators worldwide. The company extended its thanks to its teams, partners, and peers for their unwavering support as Virtuos adapts to the evolving landscape of game development.
This move by Virtuos is part of a wider trend of workforce reductions impacting major players across the gaming sector. For instance, Microsoft`s Xbox recently implemented substantial job cuts, cancelled games, and shuttered several development studios.
A recent survey among game developers suggests that mismanaged investor expectations are partly responsible for the challenges faced by the video game industry in recent years.