Ubisoft to cut 70 Singapore jobs after $1.7b annual loss
Video game company Ubisoft announced it will close its RedLynx studio in Finland and cut 70 jobs in Singapore as part of a broader cost-saving initiative following a significant annual loss.
Video game developer Ubisoft has announced plans to close its RedLynx studio in Finland and lay off 70 employees in Singapore. These workforce reductions are part of the company's strategy to return to profitability after reporting substantial financial losses.
Last year, Ubisoft had already initiated job cuts at RedLynx as it shifted the studio's focus to mobile gaming. While the Singapore studio remains a key component of Ubisoft's global operations, it is now subject to these significant staff reductions.
The company has been implementing cost-cutting measures since January. In May, Ubisoft reported a net loss of 1.5 billion euros (approximately US$1.68 billion) for the fiscal year 2025-26, prompting further austerity measures.
Ubisoft aims to achieve cost savings of at least 200 million euros (approximately US$224 million) over the next two years. This is in addition to the approximately 300 million euros targeted in recent years, underscoring the company's efforts to streamline operations and improve its financial performance.