Ubisoft is about to cut a large number of jobs.

According to VGC , Ubisoft is the latest giant in the gaming industry to announce mass layoffs. Specifically, on November 7th, the French gaming company announced it was cutting 124 jobs, primarily targeting its Canada-based studio (Ubisoft Montreal).

In a statement sent to VGC, Ubisoft said: "Over the past few months, all teams at Ubisoft have been working to streamline operations and improve collective efficiency to better position themselves for long-term success."

"In light of this, we are announcing that we are currently reorganizing the administrative functions of our Canadian studios, while simultaneously reducing the number of staff at Hybride (a Montreal-based VFX studio) and in our global IT team, affecting a total of 124 positions."

Ubisoft lays off more than 100 employees in Montreal and its global IT team.

Kotaku previously reported that the company was conducting layoffs at Ubisoft Montreal's studio, which produces Assassin's Creed and Far Cry , their largest in-house development team with approximately 4,000 employees as of 2021. In September, the company also announced plans to close its mobile studio, Ubisoft London, known for the Hungry Shark series, resulting in 54 job losses.

Earlier this year, Ubisoft said it wanted to cut costs by around €200 million over the next two years through targeted restructuring, eliminating some non-essential units and cost overruns, and added that it would continue to consider recruiting more talent for its biggest brands and live services.

Job cuts in the gaming industry were widespread in 2023. Companies affected by layoffs this year include Xbox Game Studios, Epic Games, Sony Interactive Entertainment, CD Projekt, Unity, Riot Games, Blizzard, Crystal Dynamics, BioWare, Striking Distance, Team17, Frontier Developments, and Telltale Games.

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