Lars Wingefors

The company claimed laying off 8 percent of its total workforce is part of its aggressive restructuring plan to 'maximize shareholder value.'

These new layoffs continue to be part of Embracer's ongoing restructuring, which have already seen several studios closed or downsized.

More layoffs and closures could be coming to Embracer Group subsidiaries should the company fail to find funding for projects.

While CEO Lars Wingefors announced that layoffs will be happening, he could not provide forecasts on just how many jobs will be terminated.