The stock of Ubisoft (UBSFF) is down 34% after the French company canceled six upcoming video games and announced a reorganization of its business.
Ubisoft is headquartered in France and known for its popular “Assassin’s Creed” video game series. The company has long had a sizable operation and presence in Montreal, Quebec.
The Ubisoft Montreal studio is one of the company's largest development centres and where it has created well-known video game franchises such as “Far Cry.”
Now, Ubisoft has announced a major organizational restructuring and plans to shut studios and cancel six upcoming video game titles.
The changes come after years of stock price declines and delays of several highly anticipated video games.
News of the latest changes come after Ubisoft said that it expects an operating loss of $1.17 billion U.S. in 2026.
In response to the loss, Ubisoft said that it plans to sell some major assets and close several offices and studios that it operates around the world.
Studios that Ubisoft plans to close include smaller ones located in Halifax, Nova Scotia and Stockholm, Sweden.
The company also plans to restructure offices in Abu Dhabi, Helsinki and Malmö.
Management said the changes will save Ubisoft $580 million U.S. in fixed costs and $1.46 billion U.S. on a run-rate basis by 2028.
The stock of Ubisoft, which trades in Europe, has fallen 95% over the last five years.
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