Ubisoft shares drop 33% following its "major company reset" announcement

Following Ubisoft's announcement of a major company reset, its share price dropped 33% to €4.36, marking the lowest point in over 14 years. The company plans to split its creative operations into five divisions, cancel six games, and delay seven others. Ubisoft expects an operating loss of around €1 billion for the current financial year, with additional cost reductions planned.