Ubisoft to Close Two More Studios, Cut Team in Barcelona

Key Takeaways

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Ubisoft is implementing a significant cost-reduction program due to a record-breaking net loss of 1.5 billion euros, which resulted in the closure of studios in Winnipeg, Canada, Belgrade, Serbia, and Barcelona, Spain, as well as substantial workforce reductions.
The restructuring impacts the development of Tom Clancys Rainbow Six: Siege, with 12 members of the Siege team being reassigned to other projects and Ubisoft Barcelona becoming the primary development studio for the game.
Ubisoft intends to concentrate on its major studios in Montreal, Paris, and Toronto for AAA game development and plans to expand its presence in mobile gaming. The company also aims to reduce costs by an additional 500 million euros by March 2028.
These job losses follow a reorganization in December 2021 that led to over 500 employees being let go, and the current round of cuts represents about 3% of Ubisofts global workforce. Ubisoft has already closed several studios earlier in 2026 and expects no financial improvement for the 2026-2027 fiscal year.

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Ubisoft is implementing a significant cost-reduction program following a fiscal year ending March 2026 that resulted in a record-breaking net loss of 1.5 billion euros. This initiative involves the closure of its studios in Winnipeg, Canada, and Belgrade, Serbia, alongside substantial workforce reductions at its Barcelona studio. These changes are set to affect a minimum of 380 positions within the company, which had 16,590 employees as of March 31, 2026. The restructuring impacts the development of Tom Clancy’s Rainbow Six: Siege. Ubisoft will reassign 12 members of the Siege team to other projects, designating Ubisoft Barcelona as the primary development studio for the game. The Ubisoft Winnipeg studio, comprising 65 positions and specializing in development tools for the Anvil and Snowdrop engines, recently contributed to Rainbow Six Mobile and Xdefiant. Established in 2016, Ubisoft Belgrade employed approximately 100 individuals and contributed to major productions such as Ghost Recon Wildlands, The Crew 2, and Skull and Bones.

Ubisoft Barcelona will not close but will dismiss 51 employees. In parallel, Ubisoft is shutting down its Reflections, Saga, and Shanghai studios, leading to around 540 job losses across these locations. Reflections worked on titles including Driver: San Francisco and the multiplayer for Watch Dogs Legion. Saga contributed to Assassin’s Creed Chronicles and Valiant Hearts, while the Shanghai studio was involved in projects like Starlink: Battle for Atlas and Beyond Good & Evil 2. Ubisoft intends to concentrate on its major studios in Montreal, Paris, and Toronto, which are key for its AAA game development, and plans to expand its presence in mobile gaming. CEO Yves Guillemot emphasized that these adjustments are critical for the company’s sustained success.

These job losses follow a reorganization in December 2021 that led to over 500 employees being let go. The current round of cuts represents about 3% of Ubisoft’s global workforce. The Ubisoft San Francisco studio will reduce its staff, impacting marketing, engineering, and specialist roles. At Ubisoft Montreal, approximately 170 employees who were working on Rainbow Six Siege and Rainbow Six Siege Mobile will be moved to different responsibilities. The remaining Siege team will concentrate exclusively on the core game, which remains a significant title for Ubisoft. Another mobile gaming studio in Barcelona remains unaffected by these changes. The company’s financial performance, marked by numerous delays, cancellations, and an ambitious growth strategy during the pandemic that swelled its ranks to over 20,000 employees, culminated in a 1.5 billion euro net loss for the fiscal year ending March 2026. Despite a cost-cutting program initiated in 2023 that has already trimmed over 325 million euros from expenses, Ubisoft plans to reduce costs by an additional 500 million euros by March 2028. These measures explain the current layoffs and studio closures.

Ubisoft Expands Global Restructuring, Affecting Multiple Studios and Employees in the Coming Fiscal Year

Earlier in 2026, Ubisoft had already closed its studios in Stockholm, Halifax, Red Storm, and Leamington Spa, and reduced staff at its Paris, Toronto, San Francisco, Osaka, Sydney, Abu Dhabi, Redlynx, and Massive Entertainment studios. Ubisoft has alerted shareholders that no financial improvement is expected for the 2026-2027 fiscal year.

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