European games firm Embracer Group lost over 1,800 staff during its last financial year. 

That's according to its annual report – as spotted by Game Developer – in which the company disclosed that its headcount was 1,857 staff lower at the end of its 24/25 financial year compared to 23/24. 

This followed Embracer Group seeing around 1,400 workers losing their jobs during the previous fiscal year. 

It's worth noting that not all of the departed staff are layoffs; Embracer has sold off a number of its studios, including Gearbox and Saber Interactive. 

This might be the tail end of the "restructuring" that Embracer Group has undergone in recent years following a multi-billion dollar investment from Saudi Arabia's Savvy Group falling through. 

The company has undergone a fair bit of change in recent months; Embracer is splitting into three publicly-traded companies, while founder and CEO Lars Wingefors is being replaced as CEO by Square Enix vet Phil Rogers.  

"Having worked very closely with Phil over the past years, I have high confidence in his abilities to run Embracer and the future Fellowship Entertainment," Wingefors wrote in a letter to shareholders.  

"I am thankful for the years and lessons learned in my time as CEO. While the road has not always been straight, I am incredibly proud of the achievements made possible by our talented teams, which have created some incredible experiences for gamers. My proposed role as executive chairman of the Board allows me to focus on strategic initiatives, M&A, and capital allocation, with the ambition to ensure Embracer's continued growth and success, together with Phil and our teams. I am more convinced than ever that the best is still ahead of us."