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.
In our review, we felt that F1 Manager 2023 failed to offer enough new features to warrant a purchase for ‘22 owners, despite the new Race Replay and Exclusive Scenarios modes offering a fresh twist on the F1 Manager formula. It remains a solid title, however, and incrementally improves on ‘22 in most regards.
The company appears to stress that the F1 Manager series will return in 2024, stating ‘we are developing our plans for 2024’, also emphasising its intention to support and develop ‘23 on an ongoing basis.
The release of the Cambridge firm’s Warhammer-based real-time strategy title, Warhammer Age of Sigmar: Realms of Ruin, is therefore set to be pivotal in Frontier’s 2023-24 financial performance.
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