Ubisoft shares nosedived 34% Thursday after the Assassin's Creed publisher unveiled a brutal restructuring plan that cancels six games, closes multiple studios, and forecasts a €1 billion ($1.17 billion) operating loss for 2026. The shake-up marks the company's most drastic move yet to halt years of financial decline that accelerated after the pandemic, with the Paris-listed gaming giant now exploring asset sales to stabilize its bleeding balance sheet.
Ubisoft just delivered the harshest reality check in its 40-year history. The French gaming powerhouse behind Assassin's Creed and Far Cry watched its stock crater 34% Thursday after CEO Yves Guillemot announced a massive restructuring that wipes six games off the development slate and shutters studios across three continents.
The carnage is immediate and sweeping. Studios in Halifax, Nova Scotia, and Stockholm are closing entirely, while facilities in Abu Dhabi, Helsinki, and Malmö face restructuring. According to Ubisoft's Wednesday evening statement, the company expects to book a €1 billion ($1.17 billion) operating loss for the fiscal year ending 2026, driven by a €650 million write-down tied directly to the portfolio reset.
"Today's market environment requires that the Group step-changes how it is organized and operates," Guillemot said in the official statement. It's corporate-speak for what everyone in the gaming industry already knows - Ubisoft's bet on live-service games and delayed blockbusters has spectacularly backfired.
The numbers tell a grim story of decline. Ubisoft slashed its net bookings guidance for fiscal 2026 by €330 million, now expecting just €1.5 billion in revenue. That's a brutal comedown for a company that once dominated AAA gaming. The company's struggles began accelerating after the pandemic gaming boom faded, compounded by high-profile delays to major releases and mounting financial struggles throughout 2025.
