Frontier Developments to Cut Staff and Costs Amid Financial Struggles
Operating Losses Prompt Restructuring and Layoffs
Frontier Developments, the UK-based game studio known for titles like F1 Manager 23 and Planet Coaster, is planning to lay off an undisclosed number of employees in a bid to reduce operating costs, according to reports by gamesindustry.biz.
A trading update released by the company today revealed that Frontier has been facing financial challenges. Their most recent financial reports indicated an 8% decrease in revenue for the year ending on May 31. Adding to the financial woes, the operating loss for the same financial year amounted to a significant $32 million / £26.6 million. This is a stark contrast to the previous year when they recorded an operating profit of $1.83 million / £1.5 million.