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Huuuge Video games is shedding practically a 3rd of its world workforce because it refocuses its portfolio on social on line casino titles.
The writer is making 122 employees redundant, which accounts for 29% of staff. The Poland workplace will see 89 job losses, accounting for 21% of the department’s headcount.
Huuuge will even shut down its studios within the Netherlands and Finland, known as ‘Huuuge Pods’, and discontinue new sport improvement.
The corporate mentioned it anticipated its workforce discount to be accomplished by the top of February 2025. It claimed this is not going to negatively influence its income.
Job losses
Price-cutting measures will even see the writer stop additional financing for Bananaz Studios, which is able to see a $3.5 million write-down.
Regardless of the layoffs and closures, Huuuge mentioned it stays worthwhile and has $125m in money reserves as of Q3 2024. It additionally plans to discover potential M&A investments in future. In Q3 2024, internet revenue fell by 18.2% year-over-year to $15.3m.
“We deeply worth the contributions of all our group members and are taking steps to assist these affected by this transition,” mentioned Huuuge CEO Wojciech Wronowski.
“Whereas these choices are by no means simple, they mirror dedication to streamlining operations and accelerating our capacity to innovate.
“Huuuge stays a worthwhile firm, and this marks a pivotal second as we chart a path ahead to ship even better worth to our gamers, companions, and shareholders.”
Huuuge additionally introduced the appointment of Maciej Hebda as its new treasurer and EVP of finance, following the resignation of Marek Chwałek.