Ubisoft Share Price Plunges & Strike Action Called In Reaction To Reset Plan

Paris-based video game publisher Ubisoft endured a tough day on the Paris bourse on Thursday in the wake of its announcement of a reset involving layoffs, studio closures and the cancellation of six games.

News of the restructuring of the company – best known for games such as Assassin’s Creed, Far Cry, Rainbow Six and Just Dance – met with dismay in the France were most of the staff are based as well as scepticism over whether the plan would have the desired effect of balancing the books.

As reported by Deadline on Wednesday, the reset involves layoffs, the cancellation of six games, including a highly anticipated Prince of Persia adaptation, studio closures and a five-day return-to-office mandate for employees who have become accustomed to the flexibility of a hybrid arrangements.

The latter move has already received push back from the company’s staff in France, who expressed consternation given the fact their unions had only recently struck a deal for employees to work three days oat the office, with two days at home.

Vincent Cambedouzou, a rep for the STJV game Video Game Workers’ Union at Ubisoft Paris, said the staff had been informed of the plan via email and through the press on Wednesday.

“This is completely unacceptable. In principle, this is not how you interact with your employees,” he told France Info.

“Of course this worries a lot of people,” he continued. “After the implementation of teleworking, people moved and no longer live in the region where they have to work. Obviously, in this respect, it is terrifying for a lot of people.”

Members of the Solidaires Informatiques union based in the Paris HQ staged a half day strike on Thursday with the promise of more industrial action down the line.