Ubisoft cancels six projects in a major corporate restructuring, halting development of the Prince of Persia: The Sands of Time remake, closing two studios, and postponing the release of seven titles

Ubisoft's troubled Prince of Persia: Sands of Time remake is dead as publisher kills multiple projects, closes studios, and orders staff back to the office | Eurogamer.net
https://www.eurogamer.net/ubisofts-troubled-prince-of-persia-sands-of-time-remake-is-dead-as-publisher-kills-multiple-projects-closes-studios-and-orders-staff-back-to-the-office

Ubisoft Cancels 6 Projects Including Prince of Persia: Sands of Time Remake, Closes 2 Studios and Confirms Further Layoffs in Major Company Restructure - IGN
https://www.ign.com/articles/ubisoft-cancels-6-projects-including-prince-of-persia-sands-of-time-remake-closes-2-studios-and-confirms-further-layoffs-in-major-company-restructure
Ubisoft's corporate restructuring has resulted in six titles being completely halted, but as of the time of writing, only one specific title has been identified. This is 'Prince of Persia: The Sands of Time,' a long-awaited remake among fans. Three of the canceled titles are new titles, and one is a mobile game. Ubisoft has explained that it will focus on open-world games and live services going forward.
In addition, Ubisoft also announced the postponement of seven titles. While specific details have not been revealed, one of the seven postponed titles is an unannounced title that was originally scheduled to be released by March 31st. This unannounced title has been rumored to be a remaster of Assassin's Creed IV: Black Flag .
Ubisoft's two game studios, Ubisoft Halifax in Halifax, Canada, and Ubisoft Stockholm in Stockholm, Sweden, will be permanently closed. Ubisoft Stockholm and Ubisoft Halifax are game studios that jointly worked on the development of Avatar: Frontiers of Pandora .

In addition, Ubisoft's office in Abu Dhabi, the capital of the United Arab Emirates, RedLynx , a game studio known for developing the racing game Trials , and Massive Entertainment, the developer of the Tom Clancy's The Division series, will also undergo organizational restructuring, which means layoffs.
The restructuring will see Ubisoft split its efforts among five creative houses, each responsible for developing its biggest titles. All teams will be required to return to working in the office five days a week, but a certain number of employees will be allowed to work remotely throughout the year.
'We thoroughly reviewed our projects throughout December and January in light of market trends, which have become increasingly selective,' Ubisoft Chief Financial Officer Frederic Duguet told IGN. 'Last quarter we saw unprecedented levels of competition, and we expect that competition and selection will continue.'
Ubisoft has abandoned its previous guidance for the fiscal year, resetting its net bookings to approximately 1.5 billion euros (approximately 280 billion yen), a decrease of 330 million euros (approximately 61 billion yen). Ubisoft explained that the significant reduction in bookings reflects changes to the company's upcoming release pipeline as a result of the implementation of its updated development roadmap, as well as a decision to 'postpone negotiations regarding certain partnerships' in light of its new operating model.
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