Ubisoft shares plummet after Assassin’s Creed maker unveils reorganization, cancels six games

Ubisoft shares plummeted 34% after the company announced a major reorganization, including the cancellation of six games, and plans to close studios in Halifax and Stockholm. The restructuring, following years of stock price decline and financial struggles, is expected to result in an operating loss of around 1 billion euros for the financial year ending 2026. The company aims to save 500 million euros through cost-cutting measures and expects net bookings to drop by 330 million euros.