Wednesday, Ubisoft announced a “major reset” of its organizational hierarchy and game development plans that CEO Yves Guillemot said would foster “the conditions for a return to sustainable growth.” That included a fundamental shakeup to its internal studio structure, the cancellation of six projects including the Prince of Persia: The Sands of Time remake, and for some reason, a promise that more “player-facing generative AI” was on the way.
As you might expect when a company announces everything is on fire, everything is on fire: as CNBC pointed out a day after the announcement, the company’s share price went down by around 34% after the restructuring was announced. When the stock market closed yesterday the price sat at €4.06 (around $4.80) a share.
This marks the lowest point in a long downward trajectory going back to 2021 as you can observe on CNBC’s website, and it’s the lowest share price the company has seen since 2011—the year it reported a $74 million loss. While it’s not the lowest the share price has ever been, nor is it perhaps as dicey as the hostile takeover Vivendi backed off from in 2018, it signals the graveness of this moment for the company.
