Ubisoft shuts down 2 more studios and lays off 380 employees! The sixth round of downscaling after the NFT dream

French gaming giant Ubisoft announced a new wave of layoffs on June 10, shutting down the Winnipeg and Belgrade studios, and shrinking Barcelona to only develop Rainbow Six, along with simultaneous staff reductions in the global publishing division, affecting approximately 380 employees in total. This is the sixth restructuring wave in 2026.
(Background recap: Ubisoft suffered a €1.5 billion loss last year! NFT dreams shattered, a lesson from going from Web3 pioneer to bottoming out for rebirth)
(Additional background: The winter still persists — cryptocurrency companies laid off nearly 3,000 people in January, with Coinbase cutting the most!)

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• Shutting down two studios
• Barcelona downsizing, Rainbow Six project divestment
• Sixth restructuring wave in 2026
• From Web3 pioneer to layoff machine

French game giant Ubisoft is once again closing studios. An internal memo on June 10 stated that the Canadian Winnipeg and Serbian Belgrade studios will officially cease operations, with the Barcelona team also being consolidated, and personnel adjustments made in the global publishing division, affecting a total of about 380 people.

Shutting down two studios

The Winnipeg studio was established in 2019, with about 65 employees, recently responsible for the mobile version of Rainbow Six, and has also worked on the free-to-play shooter XDefiant. The Belgrade studio, opened in 2016 and larger in scale, laid off about 100 people, and recently participated in the remake of Assassin’s Creed Black Flag and Assassin’s Creed Mirage.

Barcelona downsizing, Rainbow Six project divestment

Ubisoft Barcelona has not closed but will shrink to become a dedicated Rainbow Six series team, laying off about 51-61 employees. More notably, 120 staff members involved in Rainbow Six Siege have been reassigned, suggesting Ubisoft may be preparing for a new game or operational mode adjustments.

The global publishing division has also carried out layoffs across multiple offices, with dozens leaving the San Francisco headquarters, but Ubisoft emphasized maintaining a strong presence in key markets.

Sixth restructuring wave in 2026

This wave of layoffs marks Ubisoft’s sixth restructuring effort in 2026. In January, Ubisoft announced a “final wave” plan to save €200 million, closing the Halifax studio, canceling six games (including the Prince of Persia: Sands of Time remake), and delaying seven new titles.

The latest financial report in May showed revenue and net bookings both declined, with the company expecting cash flow to be in a “low period” for fiscal year 2026. This year’s new releases include only two remakes: Assassin’s Creed Black Flag Resynced and Rayman Legends Retold.

From Web3 pioneer to layoff machine

Ubisoft was among the first to venture into NFTs and Web3 in mid-2022, attaching NFTs to IPs like Assassin’s Creed, Far Cry, and Ghost Recon. By the end of 2025, it reported a record-breaking operating loss of €130 million, leading to waves of layoffs and closures.

Insider Gaming obtained the internal memo, in which Ubisoft stated: “Over the past few months, we have been streamlining our organizational structure and reducing costs to lay a foundation for long-term growth.”