Frontier Developments, the British developer behind games such as Elite Dangerous, Jurassic World Evolution and the F1 Manager series, recently posted its results for the financial year 2022-23, citing a pre-tax loss of £26.6m.
This has led to the announcement today (17th October 2023) of job losses, with the company aiming to cut overall annual operating costs by 20%.
“The cost reductions will be achieved through a recruitment freeze, spending cuts and, unfortunately, redundancies, subject to consultation,” reads the statement.
The announcement follows a pattern in the video game sector of downsizing and lay-offs, with industry big-hitters like Epic Games, Ubisoft, Blizzard Entertainment, EA, the Embracer Group and Bethesda all announcing workforce reductions.
Although the initial F1 Manager 2022 sold over 850,000 copies and enjoyed a positive critical reception, F1 Manager 2023 sales have apparently been ‘below expectations’, with fewer players placing pre-orders.
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