Frontier to Lay Off Employees

Business

17 October 2023 16:57

According to recent reports, Frontier the developer of titles such as F1 Manager and Planet Zoo is getting ready for layoffs. The company stated it intends to '"refocus on its core strengths following a period of disappointing financial performance and more challenging industry conditions." The company aims to slash operating costs by up to 20%. Frontier announced operating loss of $30m.

The company stated "The Board remains comfortable with market expectations for FY24, with consensus revenue at £108 million and consensus Adjusted EBITDA loss of £9 million. The cost reductions from the Organisational Review are expected to be fully effective for FY25."

The gaming industry in general is going through a rough patch. Recently companies such as Telltale Games laid off its members and the layoffs even affected Twitch staff.

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Frontier to Lay Off Employees

Business

17 October 2023 16:57

Tags: Frontier

According to recent reports, Frontier the developer of titles such as F1 Manager and Planet Zoo is getting ready for layoffs. The company stated it intends to '"refocus on its core strengths following a period of disappointing financial performance and more challenging industry conditions." The company aims to slash operating costs by up to 20%. Frontier announced operating loss of $30m.

The company stated "The Board remains comfortable with market expectations for FY24, with consensus revenue at £108 million and consensus Adjusted EBITDA loss of £9 million. The cost reductions from the Organisational Review are expected to be fully effective for FY25."

The gaming industry in general is going through a rough patch. Recently companies such as Telltale Games laid off its members and the layoffs even affected Twitch staff.

Share:

Sources:

Report mistake Submit news