It seems as though Ubisoft isn’t out of danger just yet, despite a massive round of layoffs last year and a new subsidiary with substantial Tencent investment. According to an announcement, the gaming giant has cancelled a slew of games and instituted a company-wide reshuffle as part of a revised three-year roadmap to accelerate cost reductions. One part of this restructuring involves the closure of “several” studios and a new return-to-office mandate that will see Ubisoft employees return to office five days a week. The employees will also receive an annual allotment of work-from-home days that can be used flexibly. It’s unclear how many days each employee will be allotted. Part of the justification for the restructuring is to “return to exceptional levels of quality on the open-world adventure segment,” and renew focus on Ubisoft’s games-as-a-service business. This includes the closure of Ubisoft’s Stockholm studio and the prior closure of its Halifax mobile studio and restructuring efforts in Abu Dabhi, RedLynx, and Massive. With these measures, Ubisoft is planning to save at least €200 million in fixed costs over the next two years. According to a source who spoke to Insider Gaming, Ubisoft is expected to lay off “hundreds” of employees as a result of the restructuring.

Ubisoft also announced that it will be discontinuing six games that it says “do not meet the new enhanced quality” that Ubisoft is aiming for. It has confirmed that the cancelled games include the much-anticipated Prince of Persia: The Sands of Time remake, an unannounced mobile game, and three new IPs, suggesting there was at least one more remake or sequel that was also cancelled. Ubisoft has also delayed the launch of seven games, one of which has been theorized to be the Assassin’s Creed Black Flag remake that has repeatedly shown up in leaks. Ubisoft says it has four new IPs currently in development, including the recently acquired March of Giants. Part of the aforementioned restructuring, Ubisoft plans to split its different IPs up among five creative houses, which will each have “end-to-end responsibility” for the IPs in its portfolio, meaning they will be responsible for “the full creative and brand scope” and managing everything from development to marketing, branding, and publishing strategies. Likewise, each creative house will be responsible for the financial performance of their various projects, including profits and losses and cash generation.

Ubisoft’s new creative houses will be structured as follows:CH1 (Vantage Studios), focused on scaling and extending Ubisoft’s largest and established franchises to turn them into annual billionaire brands. Brands: Assassin’s Creed, Far Cry, Rainbow SixCH2 dedicated to competitive and cooperative shooter experiences. Brands including The Division, Ghost Recon, Splinter CellCH3 designed to operate a roster of select, sharp Live experiences. Brands including For Honor, The Crew, Riders Republic, Brawlhalla, Skull & BonesCH4 dedicated to immersive fantasy worlds and narrative-driven universes. Brands including Anno, Might & Magic, Rayman, Prince of Persia, Beyond Good & EvilCH5 focused on reclaiming position in casual and family-friendly games. Brands including Just Dance, Idle Miner Tycoon, Ketchapp, Hungry Shark, Invincible: Guarding the Globe, Uno, Hasbro