French game publisher Ubisoft is closing two more studios. An internal memo dated June 10 confirmed that the Winnipeg (Canada) and Belgrade (Serbia) offices will cease operations, while the Barcelona team will be significantly downsized. Combined with cuts in the global publishing division, approximately 380 employees are affected — marking Ubisoft's sixth restructuring round in 2026.
Two Studios Shut: 65 in Winnipeg, 100 in Belgrade
The Winnipeg studio, founded in 2019 with about 65 staff, had been working on the Rainbow Six mobile version and the free-to-play shooter XDefiant. The larger Belgrade studio, opened in 2016, laid off roughly 100 people and recently contributed to the Assassin's Creed Black Flag remake and Assassin's Creed Mirage.
Barcelona Downsized, Rainbow Six Focused, 120 Transferred
Ubisoft Barcelona will not close entirely but will be restructured to focus exclusively on the Rainbow Six franchise, resulting in 51-61 layoffs. Notably, 120 staff from the live Rainbow Six Siege project have been reassigned, hinting at a potential new title or operational shift. The global publishing unit also cut dozens of jobs in offices including San Francisco, though Ubisoft says it maintains a "strong presence in key markets."
Sixth Wave of Restructuring in 2026: Revenue Slips, Cash Flow in "Trough"
This round follows a January announcement of a "final wave" to save €200 million, which included closing the Halifax studio, canceling six titles (including the Prince of Persia: The Sands of Time remake), and delaying seven games. The May earnings report showed both revenue and net bookings declining, and the company expects a "low point" in cash flow for fiscal 2026. This year only two remakes are scheduled: Assassin's Creed Black Flag Resynced and Rayman Legends Retold.
From Web3 Pioneer to Layoff Machine: The NFT Hangover
Ubisoft dove headfirst into NFTs and Web3 in 2022, putting its Assassin's Creed, Far Cry, and Ghost Recon IPs on the blockchain. But by late 2025, the company reported a record €130 million operating loss, triggering waves of studio closures and layoffs. An internal memo obtained by Insider Gaming reads: "Over the past months, we have been simplifying our organizational structure and reducing our cost base to lay the foundation for long-term development." The former Web3 trailblazer is now fighting for survival.