Thunderful Group Joins Gaming Layoff Trend with ‘Restructuring’ Announcement

The video game industry has been racked with layoffs over the past year, and Thunderful Group has just joined the layoff pool with a new statement of “restructure operations” which means planned future layoffs.

Over the past five years, Thunderful Group has made a wealth of gaming developer acquisitions — like Rising Star Games in 2018 or Studio Fizbin GmbH in 2023 — to pad their portfolio of quality development studios, and today after all of these years of acquisitions, Thunderful Group has announced plans to “restructure operations” to “strengthen the Group’s long-term competitive position”. Yeah, guys, it means more layoffs are coming.

Thunderful Group &Quot;Restructure Operations&Quot; Means Planned 20% Staff Cuts

It has only been a month since Thunderful Group shook up its leadership and ousted former CEO Agostino Simonetta in favour of four new executives, and Martin Walfisz has only been CEO since May, but in the restructuring operations memo, Walfisz plays a major role in ‘evaluating the current and future position’ of Thunderful Group.

Walfisz said, “Since I joined as CEO in the fall of 2023, we have evaluated the current business and the future position of Thunderful,” with “we have found no alternative other than to reduce costs and focus the business on areas with the best future growth and profitability prospects. It has been difficult to make these decisions, and it saddens me that we will have to say goodbye to many skilled colleagues and partners. Nevertheless, I am convinced that this is a necessary direction for Thunderful and that these changes will make the company a stronger player in the market.”

Thunderful Group &Quot;Restructure Operations&Quot; Means Planned 20% Staff Cuts

The memo mentions their restructuring program will occur within the first half of the year, and 20% of the workforce (the entire Thunderful Group workforce) will be affected. If Thunderful’s LinkedIn page is accurate and the company has ~500 employees, 100 employees will be affected directly by the restructuring program.

You can find the whole message for those interested in the entire statement made by Thunderful Group.

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