Sinking like lost plunder.

Ubisoft stock plummets following recent cancellations

Ubisoft stock plummets following the most recent project cancellations as well as delaying Skull and Bones for the sixth time.

Earlier this week, Ubisoft not only delayed the troubled Skull and Bones (again) but also cancelled three unannounced projects. This was on top of a further four cancelled projects in 2022. 

skull & bones
Credit: Ubisoft

So within a year, Ubisoft has put the nail in the coffin of seven potential video games. Despite not knowing what those projects were, they all would have garnered a heavy burden on employee developmental time, not to mention the added financial waste.

ADVERT
ADVERT

Ubisoft stock value has taken a hit

As reported by the Financial Times (thanks Eurogamer), following this week’s cancellations as well as the delay of Skull and Bones, Ubisoft stock has plummeted by 14% at a trade value of €20.52. Obviously, that value can fluctuate day-to-day.

There can be any number of reasons why projects and video games fail, whether it’s released or unreleased material. The finger of blame can be pointed in any one direction. However, ultimately, the responsibility should be a burden for those in charge. Well, perhaps not through the eyes of some.

assassins creed
Credit: Ubisoft

Ubisoft CEO seemingly passes the blame

In an email provided by a source of Kotaku, Ubisoft CEO Yves Guillemot allegedly sent an email to staff calling for them to be more efficient.

ADVERT
ADVERT

Today more than ever, I need your full energy and commitment to ensure we get back on the path to success,” said Guillemot in an alleged email.

I am also asking that each of you be especially careful and strategic with your spending and initiatives, to ensure we’re being as efficient and lean as possible.

The ball is in your court to deliver this line-up on time and at the expected level of quality, and show everyone what we are capable of achieving.

ADVERT
ADVERT
ubisoft montreal office
Credit: Ubisoft Montreal (Twitter)

The CEO has overseen damning allegations

The Ubisoft CEO has been shrouded in controversy in recent years. In 2021, Ubisoft employees criticised the CEO’s open letter in response to allegations of sexual harassment and even suicide within the company.

Furthermore, some employees also filed a petition in the hope of improving work conditions.

What are your thoughts on the recent troubles of Ubisoft? Let us know across our social media channels.

ADVERT
ADVERT

While you’re here, be sure to check out our video of the week. 10 of the scariest horror games of all time are shown off. What is your favourite horror game?

YouTube video

Featured Image Credit: Ubisoft/Source: Eurogamer/Financial Times/Kotaku