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Ubisoft restructuring sparks strikes and game cancellations
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Ubisoft's recent company-wide reset has led to the cancellation of six games, studio closures, and a proposed 200 voluntary redundancies in France, prompting unions to vote for strikes. The move includes the scrapping of the long-delayed Prince of Persia: The Sands of Time remake and a price increase for the Just Dance+ service. Shares fell 34 percent, marking the company's lowest value in 15 years.
Microsoft is reportedly in talks to close several Xbox game studios as part of a broader restructuring. Negotiations involve studios behind well-known titles including Psychonauts, South of Midnight, and Hellblade.
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Microsoft is weighing options to restructure its Xbox division, including turning it into a wholly-owned subsidiary. The move aims to boost the business performance of the gaming unit.
Ethiopia has reached an agreement in principle with the key bondholders committee to restructure $1 billion in bond debt. This deal aligns with its program with the International Monetary Fund. The agreement supports sustainable debt management.
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Correios are considering claiming government compensation for providing the universal postal service, which causes substantial losses. The state-owned company is negotiating a R$20 billion loan tied to a restructuring plan but faces resistance from the Lula administration. The issue will be mentioned generically in the plan without relying on future compensation revenues.