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GRTV News - 505 Games shuts Spain, France, and Germany offices

505 gets rid of the majority of its presence in Europe.

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"Hello and welcome to another GRTV News, I'm Alex as usual taking you through the afternoon's latest and greatest in gaming, gear, tech, entertainment, whatever you like, whatever you love."

"We've always got it here for you at GRTV News and in the wider Gamereactor Network so if you like movie reviews, game reviews, game previews, exclusive content and so much more be sure to check out Gamereactor wherever you get it from.
Happy Leap Day as well you guys, we only get one every four years so I might as well mention it even though today it's not really a massively happy story unfortunately we're looking at even more layoffs in the gaming industry today specifically to do with 505 Games shutting down offices in Spain, France and Germany."

"Now that sounds like a whopping big thing to happen but as reported here it seems like only under 10 people have been affected, still for those under 10 people we do hope that you get back on your feet pretty sharpishly but in any case it's just another evidence, another bit of evidence that things aren't quite going well in the gaming industry right now we've seen EA layoffs last night, we saw PlayStation layoffs this week, 505 back in November were announced that they were cutting around 30% of the jobs and now they're not going to really have a big presence in Europe by the looks of things apart from the Milan HQ but yeah it's a really interesting thing for 505 because not only have they just shut down these offices as we can confirm today but it was announced sort of late last night that they were going to be losing out on control, control is now going to be fully owned by Remedy which means that perhaps 505 isn't going to be working on control 2 anymore which is very interesting, perhaps very sort of like indicative of this downsizing really perhaps they're just pushing that away to one side, there's other games as well that could be working on Project Iron, Assetto Corsa 2, all these things that people want to see and yet they might not, again sorry that we can't really be the bearer of good news today it just seems like it's one of those weeks really as I say with EA, PlayStation and other stuff it sucks and I really wish it wasn't this way, I don't have the power unfortunately to do anything about it but if you do sort of know anyone who's been affected by this or if you yourself have been affected by this, all the best for you really, it's one of those where you can't, as journalists we're not on the, we're more inside than some than the average sort of gamer I would say but you still, you never really know what's going on in those studios, you never really know what's going on with the suits as well the executives, the people who are making the big decisions such as layoffs, what they're thinking and it really just seems like hopefully, hopefully by the end of this fiscal quarter by the end of March we can see an end to these layoffs but I think it's going to get worse before it gets better this year, I think March is going to be a really really bad month for layoffs as we've already seen February's been pretty bad, we've already reached 80% of what the people have got laid off in 2023 so yeah I think it's going to get worse before it gets better but hopefully fiscal year 2024 going to 2025 can see some real improvement but yeah let me know what you think on this as usual, what do you think is going to happen with 505 Games, what do you think is going to happen with this sort of downsized approach that it's going for, do you think it's going to work, let me know all that and hopefully we'll be doing a more positive news piece tomorrow, see you later guys."

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