Virtuos, a global leader in game development recognized for its contributions to titles such as the acclaimed The Elder Scrolls IV: Oblivion Remastered, is currently implementing a significant “restructuring” initiative. This strategic realignment is set to result in workforce reductions, impacting approximately 7% of its global employee base. A company spokesperson indicated that these layoffs are primarily concentrated within teams experiencing reduced project demand and lower utilization, a direct consequence of broader structural shifts observed across the gaming industry.
The ongoing restructuring will affect around 200 employees in Asia and an additional 70 in Europe. The company has confirmed that its French office, which played a crucial role in the Oblivion Remastered project, will see fewer than 10 job cuts.
Virtuos conveyed its appreciation for the efforts of the affected staff, stating, “We are providing separation packages, career transition assistance, and opportunities for redeployment across our global network where possible.” The company further emphasized that its immediate focus is on managing this transition “with care, transparency, and respect.”
Beyond its previous achievements, Virtuos remains actively engaged in several high-profile projects, including Metal Gear Solid Delta: Snake Eater and ongoing updates for Cyberpunk 2077. With a vast global workforce exceeding 4,000 individuals through its Singapore-based headquarters and various subsidiaries, the estimated 7% reduction translates to approximately 280 job losses.
A spokesperson for Virtuos affirmed, “We will continue to invest in global delivery, technical excellence, and creative collaboration, ensuring that Virtuos remains the partner of choice for the world’s leading game creators.” They concluded by extending gratitude to “our teams, partners, and peers for their continued support as Virtuos adapts to lead the future of game development.”
These layoffs at Virtuos are indicative of a wider trend impacting the video game industry, following recent substantial job cuts, project cancellations, and studio closures implemented by major entities such as Xbox.
Furthermore, findings from a recent survey among game developers suggest that mismanaged investor expectations are widely perceived as a significant contributing factor to the challenges and struggles faced by the video game industry in recent years.