Embracer Group (EMBRAC.B) stock was down on Thursday after the video game publisher announced layoffs at Tomb Raider developer Crystal Dynamics. The company didn’t say how many employees were affected by these layoffs, only that a “number of talented colleagues” had their jobs cut.
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Crystal Dynamics said that these latest layoffs were due to “evolving business conditions.” Investors will also note that these aren’t the first layoffs announced by the Embracer Group subsidiary in 2025. Earlier this year, the developer cut 17 of its employees. At the time, Crystal Dynamics said those cuts were related to its current business needs.
Crystal Dynamics also made sure to reassure Tomb Raider fans that these latest job cuts weren’t connected to the series. It’s unclear if this means a new game is in the works or if the developer is referencing its recent remasters of older titles in the series. As of this writing, the first six numbered entries in the franchise have been remastered for modern consoles, such as Sony’s (SONY) PlayStation 5, Microsoft’s (MSFT) Xbox Series X/S, and Nintendo’s (NTDOY) Switch.
Embracer Group Stock Movement Today
Embracer Group stock was down 1.86% on Thursday, extending an 11.24% year-to-date fall. The shares have also decreased 39.36% over the past 12 months. With today’s news came moderate trading of EMBRAC.B stock, as some 347,000 shares changed hands, compared to a three-month daily average of about 902,000 units.
Is Embracer Group Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Embracer Group is Moderate Buy, based on one Buy and two Hold ratings over the past three months. With that comes an average EMBRAC.B stock price target of kr95.34, representing a potential 12.34% upside for the shares.
