If anyone thought Ubisoft had already hit bottom, the latest move suggests there is still further to fall.

A company statement confirms that a “voluntary” redundancy program has been launched at Ubisoft’s Paris headquarters, potentially affecting up to 200 employees. This follows last week’s announcement of a major restructuring that will split the company into five separate creative houses, delay or cancel multiple projects, and comes at a time when Ubisoft’s share price has dropped to its lowest level since 2011.

Reports had already described the mood at Ubisoft, especially at Ubisoft Paris, as one of anger and despair, and this development indicates conditions may deteriorate further. Because the program is voluntary, it is possible that fewer than 200 roles will ultimately be cut. The measure applies only to Ubisoft International staff under French contracts, and it will only become final if an agreement is reached with union representatives and approved by French authorities.

“In line with last week’s announcements regarding its new operating model and accelerated cost-reduction initiatives, Ubisoft International has initiated discussions about a potential Rupture Conventionnelle Collective. This is a collective, voluntary, mutual termination agreement that could affect around 200 positions at the headquarters in France. At this stage, the proposal requires a collective agreement with unions and validation by the French authorities to take effect. The proposal applies exclusively to Ubisoft International employees under French contracts and has no impact on other French entities or Ubisoft teams worldwide,” the statement says.

These reductions form part of the broader workforce cuts expected after Ubisoft outlined an additional €200 million in cost savings and a return-to-office policy. Those two factors triggered a strike outside Ubisoft Paris on January 22. In the week leading up to the strike, the French video game union Solidaires Informatique, which represents several Ubisoft Paris employees, publicly called on CEO Yves Guillemot to address the company’s issues, arguing that it is unacceptable for management decisions to undermine working conditions and noting that employees are the ones who actually make the games.

Guillemot and his family have led Ubisoft since its founding. Over the past eight years under his leadership, the company’s value has reportedly fallen from around $10 billion to roughly $500 million.

Source: WCCFTech, GamesIndustry