NetEnt has taken action to “optimise its operations”, resulting in 55 jobs lost from its Stockholm offices.
“By decentralising our operations we take another step towards a new NetEnt, where customers and players are in focus,” explained Group CEO Therese Hillman.
The restructuring comes after NetEnt beta-launched its own affiliate business back in September. At the time, Hillman described the launch as “both an important and natural step” that would help positioning the firm “in an attractive part of the value chain”.
The decision to now shed 55 full-time members of staff will lead to “clearer responsibilities and more emphasis on value-creating initiatives”, NetEnt argued.
The gaming firm’s full statement read: “As previously communicated, NetEnt is taking action. Now, the Company streamlines and restructures the organisation, which leads to staff reductions in Stockholm.
“The reorganisation is expected to result in non-recurring costs of approximately SEK 25 million, which will be booked in the fourth quarter of 2018.
“The restructuring of NetEnt affects 55 full-time positions, most of which are in Stockholm and within corporate support functions. The changes are taking place during December and will lead to a reallocation of resources to increased game production.
“The reorganisation is expected to result in non-recurring costs of approximately SEK 25 million, which will be booked in the fourth quarter of 2018. Of these costs, SEK 5 million relate to a write-down of intangible assets regarding a development project in the area of Virtual Reality.”
“The new organisation will have clearer responsibilities and more emphasis on value-creating initiatives. We are pleased to see the performance of our new game releases so far in the fourth quarter as we continue to diversify our game portfolio. Going forward, we increase the pace of output and expect to release 30-35 new games in 2019.”