Thunderful Announces Additional Layoffs After Missing Revenue Targets

Posted by By our-little-miss-is-home November 15, 2024 19 Views 6 Min Read
Thunderful Announces Additional Layoffs After Missing Revenue Targets



Key Takeaways

  • Thunderful announces a second restructuring in 2024, resulting in more layoffs.
  • Despite favorable reviews, Thunderful’s SteamWorld Heist 2 failed to meet internal revenue goals.
  • Thunderful’s CEO aims to focus on third-party publishing for growth and stability.



The developer and publisher behind the popular SteamWorld series, Thunderful, has announced a restructuring program that will result in a number of layoffs within the company. Unfortunately for all those involved, this is the second occurrence of such an event within a year. Thunderful Group, a Swedish video game company founded in December 2019, is responsible for releasing titles like SteamWorld Heist 2, The Gunk, and Lost in Random.

The gaming industry as a whole has struggled with constant layoffs throughout 2024, and nobody seems to be immune. Microsoft announced job cuts within its Xbox gaming division in September 2024. The original Life is Strange studio, Don’t Nod, was hit with layoffs in October 2024. Companies big and small have been forced to adjust the size of their workforce in an effort to keep the doors open. Some developers, like Concord‘s Firewalk Studios, have been shuttered entirely.


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As reported by GamesIndustry.biz, Thunderful has announced another restructuring program, which will result in even more layoffs for the company. This will be the second such program of 2024 for the developer, the first of which resulted in layoffs for 20% of its workers. Despite generally favorable reviews for SteamWorld Heist 2, Thunderful has failed to meet its internal revenue goals. The current restructure is expected to make the jobs of up to 100 employees inside and outside of Sweden redundant. This shift will also impact employees in administrative and management positions.


Thunderful Intends to Focus on Third-Party Publishing


The unfortunate turn of events all seems to be in the name of fostering future growth and stability for the company. Thunderful CEO Martin Walfisz explained that “the strategic move towards publishing games from external partners allows us to reduce fixed costs, increase flexibility, and better control cash flow.” With so many changes within such a relatively short amount of time, it’s hard for fans to anticipate what will come next for Thunderful. It remains to be seen how this restructure could impact the publisher’s upcoming games like SteamWorld Headhunter or the teams developing such titles.

While layoffs have certainly plagued the industry in 2024, the situation was just as dire in 2023. The juxtaposition of successful major game releases and mass layoffs has left many feeling uneasy. At the Game Developers Conference in 2024, Baldur’s Gate 3 director Swen Vincke blamed job cuts on corporate greed. Regardless of the reason, the gaming industry has experienced over 13,000 job losses in 2024 alone.


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