505 Games owner Digital Bros has announced plans to cut 30% of its workforce

505 Games’ parent company Digital Bros has said that it expects to cut approximately 30% of its workforce.

The Milan, Italy-headquartered company announced the planned job cuts on Tuesday as part of an “organisational review across its development studios and publishing units”.

These include Italian studio Kunos Simulazioni (Assetto Corsa) and UK-based developer DR Studios (Monopoly Tycoon, Terraria).

Digital Bros also has offices in the US, France, Spain, Germany, China, Japan, Australia and Canada.

“The videogame market has evolved since the pandemic to be more selective in terms of new games, with consumers increasingly reverting to well established Intellectual Properties and playing these same games for longer periods,” Digital Bros said in a press release.

“Digital Bros strategy has had to adapt to this new and evolving competitive scenario and will focus its efforts moving forward on the release of sequels and new versions of previously successful and established games, with a limited number of new larger budgets productions.

“In order to prioritize high-quality and long-standing successful titles, Digital Bros has reconsidered the number of projects under development and as such, will review the organization structure accordingly to align with the evolving competitive environment in the medium to long-term to ensure maximum operational efficiency.

“The restructuring program is expected to represent a reduction of approximately 30% of the global workforce, with the predominant portion concentrated within the studios.”

Job losses across the games industry have been widespread in 2023. Companies impacted by layoffs this year include Xbox Game Studios, Epic Games, Sony Interactive Entertainment, CD Projekt, Unity, Ubisoft, Riot Games, Blizzard, Crystal Dynamics, BioWare, Striking Distance, Team17, Frontier Developments, Telltale Games, Digital Extremes and Amazon.