Thunderful Group is the latest game developer to announce a layoff in 2024. According to the press release, Thunderful is laying about 100 employees or 20% of its workforce in an effort to “strengthen the viability” of Thunderful through reducing costs.
As stated by the press release, Thunderful’s past investments have unfortunately caused this drastic step, likely due to the volatile market conditions that have plagued the industry in recent years.
The group’s CEO Martin Walfisz gave a statement, expanding on the reasoning for the layoffs and on the Group’s plans for the future.
“Since I joined as CEO in the fall of 2023, we have evaluated the current business and the future position of Thunderful,” said Walfisz.
“To ensure and strengthen the viability of the Group, we have found no alternative other than to reduce costs and focus the business on areas with the best future growth and profitability prospects,” he continued.
It has been difficult to make these decisions, and it saddens me that we will have to say goodbye to many skilled colleagues and partners. Nevertheless, I am convinced that this is a necessary direction for Thunderful and that these changes will make the company a stronger player in the market.”
The Swedish-based company expects these layoffs to save them up to 110 kronor or around 10 million USD. It’s unknown whether developers within Thunderful will be affected. That said, more information will likely come about following the group’s webcast regarding the layoffs later today.
Hopefully titles in-development like Sad Cat STUDIOS REPLACED won’t be forced to delay further because of these layoffs.