Ubisoft's Global Job Cuts
Ubisoft Closes Winnipeg and Belgrade Studios; Cuts Up to 380 Jobs Amid Restructuring
Key Points
Ubisoft confirmed the Winnipeg shutdown through spokeswoman Caroline Stelmach, who said it is part of “targeted actions to reduce costs and focus resources on its strategic priorities,” while declining to specify when the office closed. The Winnipeg studio opened in the Exchange District in 2019, grew from 25 staff to 100 by 2022, and at the time Ubisoft said it would spend another $139 million in Manitoba over eight years.
In explaining the closures, Ubisoft spokesperson Antoine Leduc-Labelle tied the Winnipeg decision to “broader efforts to reduce costs… and better align resources with its priorities,” adding it “reflects adjustments to the level of activity following recent portfolio reviews.” He also said Montreal would not be affected, noting the Montreal studio employed about 4,000 people in 2024 before the current restructuring.
Ubisoft’s latest reported financial strain included a loss of nearly €1.5 billion, with sales down nearly 22% and net bookings down 17.4%, alongside cancellations/postponements of several games and a thin slate of new releases during its fiscal year under restructuring.
Beyond headline restructuring, reporting said Ubisoft is reallocating “12 percent of the development team that was working on Siege” to other projects, while making Ubisoft Barcelona the game’s new primary developer. The broader shake-up also included layoffs tied to Ubisoft Barcelona and work cutbacks affecting San Francisco, where the office ended as a development studio in 2024 but still housed IT and marketing teams.
Ubisoft’s Halifax studio closure in January resulted in 71 job losses, and the timing followed shortly after Halifax workers formed a union—something Ubisoft described as part of its larger cost-cutting plan.
Ubisoft is shutting its Winnipeg and Belgrade studios, cutting up to 380 jobs globally as part of a sweeping cost-reduction push, CTV News confirmed. Spokeswoman Caroline Stelmach said the moves are
The closures add to a string of painful cuts. Ubisoft shut its Halifax studio in January 2024, losing 71 jobs. It also closed offices in San Francisco and Osaka in late 2024. The company reported a net loss of nearly €1.5 billion for its most recent fiscal year, with revenue down 21.8% and net bookings falling 17.4%, according to Digital Journal.
Winnipeg Studio Closed After $139M Expansion Promise
Ubisoft opened its Winnipeg studio in the Exchange District in 2019 with just 25 staff. By 2022, it had grown to 100 employees. That same year, Ubisoft pledged CAD$139 million in Manitoba spending and promised to grow the studio to 300 employees by 2030, according to MobileSyrup. None of that will happen now. All 65 Winnipeg jobs are gone.
Spokesman Antoine Leduc-Labelle said the closure
Belgrade Falls and Barcelona Shrinks as Rainbow Six Shifts
Ubisoft's Belgrade studio is also shutting down, affecting roughly 100 employees, according to Eteknix. In Barcelona, about 51 to 61 jobs are being cut — around 28% of that office. But Barcelona is not disappearing. Instead, it is being repositioned as the new primary developer for Tom Clancy's Rainbow Six: Siege.
About 12% of the Siege development team is being moved to other projects, according to Push Square. The original Montreal-led vision for Siege is being replaced by a leaner, Spain-based team. Montreal itself, home to roughly 4,000 Ubisoft employees, will not see production layoffs in this round, Leduc-Labelle confirmed.
Record Losses and a €200M Cost-Cutting Plan Drive the Cuts
CEO Yves Guillemot announced a major company reset in January 2026, targeting €200 million in fixed-cost reductions over three years. In May 2026, Ubisoft reported a record operating loss of €1.3 billion for the fiscal year. The company cancelled seven unannounced games and delayed several major titles, according to Player.One.
Ubisoft's total headcount has dropped from about 20,000 in 2023 to roughly 16,500 after this latest round, according to TBreak. A $1.25 billion investment from Tencent helped create a new subsidiary called Vantage Studios, which now controls key franchises like Assassin's Creed and Rainbow Six. CFO Frédérick Duguet told investors that 2026-27 would be a
Union Timing and Public Subsidies Draw Sharp Criticism
The Halifax closure in January 2024 came just weeks after workers there formed the first North American union inside Ubisoft. Labor groups say the
In Manitoba, critics are pointing to the provincial Interactive Digital Media Tax Credit. Ubisoft collected millions in public support, then shut the studio before meeting its 2030 hiring targets. Employees in Winnipeg expressed shock on social media. One programmer called the job the
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