More job losses have hit a beleaguered international video games company despite it already cutting 1,500 staff.

Ubisoft, which has a studio based in the UK as well as bases in France, Canada, the US and and Asia, announced a 'major reset' of the company following the cancellation of several headline projects.

The firm behind hits including Assassin's Creed, Just Dance and Tom Clancy games on PS5, Nintendo Switch and PC has closed studios in Halifax, Canada and Stockholm, Sweden as well as in Abu Dhabi, resulting in the loss of a reported 155 jobs in 2026 so far.

The closure of Ubisoft, Halifax was announced the same week that the studio formed a union.

It comes after 1,500 jobs were already cut in the past 12 months.

In 2025, the firm closed its British office in Leamington and restructured its last remaining UK studio in Newcastle.

Ubisoft's last earnings report, released in November, confirmed that 1,500 staff had been cut. It said: "Total headcount stood at 17,097 representing a decrease of around 1,500 employees over the past 12 months and about 700 since the end of March 2025."

Following the news of the latest job losses, Ubisoft's shares tumbled 33% as it also announced the delay or cancellation of projects including Prince Of Persia's remake.

Announcing the restructure, Ubisoft said in a statement: "Ubisoft's strategic decision to undertake this major reset is driven by the continued shift toward a persistently more selective AAA market and an increasingly competitive shooter landscape, combined with the growing challenge for publishers to create brands in a context of higher costs.

"Nevertheless, when successful, exceptional AAA content has more financial potential than ever. While last year's progress with its production processes translated into improved levels of quality for Ubisoft games in 2025, today's market environment requires that the group step-changes how it is organised and operates with a view to delivering exceptional games quality at more competitive costs."

Ubisoft chief Yves Guillemot said the decision would 'create the conditions for a return to sustainable growth'.

He added: "While these decisions are difficult, they are necessary for us to build a more focused, efficient and sustainable organisation over the long term.

"Taken together, these measures mark a decisive turning point for Ubisoft and reflect our determination to confront challenges head-on to reshape the group for the long term."