More Gaming Layoffs: Swedish Game Developer Toadman Interactive Lays Off 100 Employees To Save Costs, Says Facing Tough Period
Sweden-based Toadman Interactive has announced cutting 100 jobs amid facing a tough time. The game developer, known for Immortal Unchained, Dead Island 2 and other titles, annoucned the latest round of gaming layoff and shut down of offices in the country to save costs.
Stockholm, September 3: Toadman Interactive, an international game developer known for Dead Island 2 and Helldivers 2, has laid off several employees and announced plans to shut down its offices based in Sweden. Due to the company's facing difficult period, the layoffs have affected 100 full-time and contract employees.
Toadman Interactive gained popularity by launching its original game titles like "Immortals Unchained" in 2018. The mid-sized gaming developer announced on LinkedIn about the layoffs alerting the employees. The company also confirmed that it was shutting down its offices in the country. Rocksteady Studios Layoffs: Video Game Developer Company Sees Job Cuts After Weak Sales of ‘Suicide Squad: Kill the Justice League’ – Reports.
Toadman Interactive Official Layoff Announcement
Like many other game companies, the Swedish gaming developer said it had been going through a "tough period" over the last 12 months. It further explained that "unfortunately," it would be shutting down its offices in Stockholm, Visby, and Oslo. Toadman Interactive also mentioned that there would be redundancies in its Berlin studio.
The company posted, "If you are hiring in the games space, please reach out to Araken dos Santos, and we would love to make introductions to our talented staff." Enad Gloal, or EG7-owned Toadman Interactive, has produced several popular gaming titles, such as Dead Island 2, Helldives 2, Immortals Unchained, Warhammer: End Times—Vermintide, and Killing Floor Calamity.
The reports mentioned that Toadman Interactive was laying off employees as part of its cost-saving plan, pushing the game developer to make a number of "adjustments" within. Toadman Interactive reportedly announced an annual cost-saving plan of USD 6.1 million. According to EG7, the EvilEvil game, released on July 16, 2024, met with a "lacklustre" reception among the gaming community. Volkswagen To Begin Layoffs? Volkswagen Says Dropping No-Job Cuts Pledge, Won't Rule Out Closing Plants in Germany.
Due to the poor reception among gamers, sales went down to lower than expected. The reports mentioned that the game developer had around 111 employees at the end of June 2024. The Toadman Interactive layoffs mark a significant workforce reduction amid cost savings in the gaming industry.
(The above story first appeared on LatestLY on Sep 03, 2024 11:49 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).