Embracer CEO Confirms Free Radical Design Could be Closed in December - News
by William D'Angelo , posted on 01 December 2023 / 2,306 Views
It was reported earlier this month TimeSplitters developer Free Radical Design was at threat of being closed just two years after being re-established.
Sources have now told VideoGamesChronicle that Embracer CEO Lars Wingefors in a company email has confirmed the studio could be closed on December 11.
"As we move through the consultation process and face the potential closure of Free Radical Design on 11 December 2023, I want to express my gratitude for your commitment and the remarkable work you've done and still keep doing," wrote Wingefors.
"This is a challenging time for all of us but especially for you, and our focus is to support you as much as we can during this transition."
UK employment law requires companies to consult with employees for a minimum of 30 days before making any redundancies.
Free Radical Design was formed in 1999 and went bankrupt in 2008. The studio developed the TimeSplitters series and Second Sight. What was left of the company was acquired by Crytek and rebranded.
Embracer has been restructuring in recent months with around 900 employees having been laid off, which is five percent of the total workforce. The company has also written down 15 projects from Gearbox, Plaion, Saber Interactive, THQ Nordic, Amplifie and Freemode. These are mainly unannounced titles.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
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Looks like we,re never be getting a new Timesplitters...They could have at least released an HD Collection or something.
Very sad.
Getting close to EA for the worst publisher out there. I have to wonder who runs the finance department, they spent a lot of money over the years and made significant losses in the end.
As bob dylan would say "the times are changing"
There goes TimeSplitters 4. -_-
