Thunderful Group, a Swedish video game holding company that owns a number of game publishers and developers as well as gaming and toy distribution companies, has announced that it plans to lay off around 20% of its staff as it restructures its operations.
Announced today (January 17), a press release stated that the restructuring process is being put in place in order to “strengthen the Group’s long-term competitive position” with the aim of reducing costs and focusing on “areas with the best future growth and profitability prospects.” This comes primarily as a result of “over-investments made in the last few years” that “have proven unsustainable given the current industry climate” and “challenging marketing conditions.”
