NetEnt AB confirms job cuts at Stockholm home office

The governance of industry games developer NetEnt AB has confirmed that it has undertaken its first organizational streamline, which has resulted in job-losses of 55 positions within its Stockholm headquarters.   

The Stockholm-listed enterprise released a statement, outlining that it has taken action to ‘optimise its operations’ with a viewing of enhancing its game production output.

The restructuring of NetEnt’s home operations has been undertaken at a cost of circa SEK 25 million (£2.2 million).

Focusing on game/content output, NetEnt governance further confirmed the company would close its virtual reality projects, booking the initiative as a SEK 5 Million (€500,000) ‘write-down’

Issuing a short notice,  Therese Hillman, Group Chief Executive of NetEnt AB  commented on the update:

“By decentralising our operations we take another step towards a new NetEnt, where customers and players are in focus. The new organization will have clearer responsibilities and more emphasis on value-creating initiatives.

“We are pleased to see the performance of our new game releases so far in the fourth quarter as we continue to diversify our game portfolio. Going forward, we increase the pace of output and expect to release 30-35 new games in 2019.”

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