The Collapse of Ubisoft (2020--2026)

Research compiled 2026-03-09. All claims sourced.

1. Sexual Harassment and Abuse Scandals (2020)

The Wave

In June–July 2020, as part of the broader #MeToo wave hitting the games industry, dozens of current and former Ubisoft employees came forward with allegations of sexual misconduct, harassment, bullying, and institutional cover-ups across multiple studios.

Key figures accused or implicated:

• Serge Hascoet (Chief Creative Officer since 2006): Allegations published by French newspaper Liberation included misogyny, homophobia, and drugging employees without their knowledge. Hascoet was described as the most powerful creative figure at Ubisoft, with near-total control over which games got greenlit. Resigned effective immediately, July 2020.

  • Source: “Top Ubisoft Executives Out Amid Allegations Of Company-Wide Misconduct,” Kotaku, July 2020.
  • Source: “Ubisoft’s chief creative officer Serge Hascoet resigns amid misconduct allegations,” Digital Trends, July 2020.

• Tommy Francois (VP of Editorial and Creative Services): Accused of making sexual propositions and genital grabbing. Placed on disciplinary leave in July 2020; departed by August 2020. Considered Hascoet’s right-hand man.

  • Source: “Tommy Francois has left Ubisoft amidst abuse & harassment investigation,” TheSixthAxis, August 3, 2020.

• Maxime Beland (VP of Editorial, co-founder of Ubisoft Toronto): Accused of choking a female employee at a Far Cry party and multiple forms of sexual harassment. Forced to resign by Ubisoft management, July 2020.

  • Source: “Ubisoft exec Beland resigns after harassment and assault allegations,” Game Developer, July 2020.
  • Source: “Ubisoft VP Maxime Beland Resigns Amid Sexual Harassment Allegations,” Hypebeast, July 2020.

• Ashraf Ismail (Creative Director, Assassin’s Creed Valhalla): Publicly accused of pursuing extramarital relationships with fans under false pretenses, using his position. Stepped down June 24, 2020. Fired after external investigation in August 2020. Had been at Ubisoft since 2009; directed Assassin’s Creed Origins (2017).

  • Source: “Assassin’s Creed Creative Director Fired From Ubisoft Following Investigation Into Misconduct,” Kotaku, August 2020.

• Yannis Mallat (Head of Ubisoft’s Canadian Studios): Departed effective immediately alongside Hascoet and Cornet.

  • Source: “Three more Ubisoft execs depart after misconduct allegations,” TheSixthAxis, July 13, 2020.

• Cecile Cornet (Global Head of Human Resources): Also departed in the July 2020 wave.

CEO Response

Yves Guillemot assumed the Chief Creative Officer role himself after Hascoet’s departure. Ubisoft promised a “structural shift” in workplace culture. External investigations were launched.

• Source: “Ubisoft promises a ‘structural shift’ in the wake of sexual harassment scandal,” Massively Overpowered, July 3, 2020.

The Pattern: Known Offenders Shuffled Between Studios

A recurring allegation was that Ubisoft’s HR and management knowingly moved accused individuals between studios rather than disciplining or terminating them — a pattern that echoed institutional abuse cover-ups in other industries.

French Criminal Investigation and Trial

French authorities opened a criminal investigation. In October 2023, five former Ubisoft executives were detained for questioning by French police, including Francois and Hascoet.

• Source: “French Police Arrest Five Former Ubisoft Executives After Sexual Assault, Harassment Investigation,” Game Informer, October 4, 2023.

In June 2025, three former executives — Serge Hascoet, Tommy Francois, and Guillaume Patrux (game designer) — stood trial in Bobigny Criminal Court on charges of “moral and sexual harassment.”

In July 2025, all three were convicted and received suspended sentences:

• Tommy Francois: 3-year suspended sentence, ordered to pay EUR30,000.

• Serge Hascoet: 18-month suspended sentence, ordered to pay EUR40,000.

• Guillaume Patrux: 12-month suspended sentence, ordered to pay EUR10,000.

• Source: “French court convicts ex-Ubisoft bosses for workplace harassment,” France 24, July 2, 2025.

• Source: “Psychological humiliation and sexual harassment: Three former Ubisoft execs on trial in France,” Euronews, June 2, 2025.

Ubisoft itself made no appearance during the initial June 2025 hearings — neither HR, nor any company representative, nor CEO Yves Guillemot testified. The Solidaires Informatiques union and four individuals subsequently subpoenaed Guillemot to appear before the court on October 1, 2025.

• Source: “Ubisoft CEO summoned to appear before French court in relation to harassment trial,” PC Gamer, August 2025.
• Source: “Ubisoft CEO Yves Guillemot must appear before French court over recent sexual harassment trial,” Massively Overpowered, August 25, 2025.

ABetterUbisoft Movement (2021)

In July 2021, approximately 1,000 current and former Ubisoft employees signed an open letter in solidarity with the Activision Blizzard walkout. Signatories came from 32 of Ubisoft’s studios across Asia, Europe, and North America. They demanded:

1. An end to promoting and shuffling known offenders between studios.
2. Employees having a meaningful say in how Ubisoft moves forward.
3. Cross-industry accountability rules involving union representatives and non-management employees.

One year later, the group reported that none of their four key demands had been met.

• Source: “Ubisoft workers slam bosses in open letter over handling of #MeToo scandals,” Axios, July 28, 2021.
• Source: “A Better Ubisoft, now a year old, says none of its demands have been met,” Game Developer, 2022.

2. Assassin’s Creed Shadows / Yasuke Controversy

The Decision

Ubisoft announced Assassin’s Creed Shadows, set in feudal Japan, with dual protagonists: Naoe (a fictional Japanese shinobi) and Yasuke, a historical figure — an African man who served Oda Nobunaga in the late 16th century. Making Yasuke a playable samurai protagonist became the focal point of intense controversy.

The Backlash

A petition launched in June 2024 to cancel the game gathered nearly 100,000 signatures. The petition argued that “Ubisoft continues to misunderstand the true nature and role of samurai,” noting that samurai were a specific hereditary warrior class and questioning whether Yasuke historically held that status.

Japanese politician Satoshi Hamada (member of the House of Councilors) brought concerns before Japanese government ministries, resulting in a formal inquiry into the game’s portrayal of Japanese culture and history.

• Source: “Ubisoft Responds To Assassin’s Creed Shadows Controversy As Petition To Cancel The Game Nears 100k,” Screen Rant, 2024.
• Source: “Following Fan Outrage, Assassin’s Creed Shadows Is Being Investigated By The Japanese Government,” Screen Rant, 2024.

Historian Debate

The historical question is genuinely contested. Yasuke’s status as a formal samurai is debated among historians. The Conversation published a piece arguing the choice was “not as unprecedented as critics claim,” while critics noted that the first European to be granted samurai status was William Adams — and that the game’s framing oversimplified complex Japanese social hierarchies.

• Source: “Assassin’s Creed Shadows introduces a black samurai – that’s not as unprecedented as critics claim,” The Conversation, 2024.

Delays and Rework

Originally scheduled for November 2024, the game was delayed to February 2025, then again to March 20, 2025. CEO Yves Guillemot publicly stated that the shift from “gameplay to ideology” was responsible for the first delay.

Significant content changes were made:

• Dialogue was altered where Yasuke had previously been presented as a samurai and celebrated by Japanese NPCs.

• Cutscenes were reworked with Naoe now portrayed as the driving force of the duo.

• The focus shifted to the Creed narrative built by both characters.

• Source: “AC Shadows Delay Was Result Of Yasuke Backlash, Ubisoft Says,” GameSpot, 2025.

• Source: “EXCLUSIVE: ‘Assassin’s Creed Shadows’ Delay Was to Scale Back Yasuke After Historical Backlash,” That Park Place, 2024.

Launch Performance (March 2025)

Despite the controversy, Shadows launched as the best-selling game of March 2025 in the US (per Circana), and the second-best-selling game of 2025 year-to-date behind Monster Hunter Wilds. It achieved the second-highest day-one sales revenue in AC franchise history (behind Valhalla). Peak concurrent players on Steam reached 64,825 during the first weekend — the highest for any AC game on that platform.

• Source: “Assassin’s Creed Shadows is the best-selling game of March 2025 in the US,” Windows Central, 2025.
• Source: “Assassin’s Creed Shadows sneaks to top of March sales,” VentureBeat / Circana, 2025.

3. Star Wars Outlaws (August 2024)

The Bet

Developed by Massive Entertainment (Ubisoft’s Swedish studio), Star Wars Outlaws was an open-world action game released August 27, 2024. It represented a massive investment — reportedly budgeted at approximately 30% more than Assassin’s Creed Mirage.

The Miss

The game sold over 1 million copies in its first month — approximately 2 million units short of what Ubisoft had projected. Internal projections had targeted around 5.5 million copies by March 2025.

CEO Yves Guillemot acknowledged the game “didn’t reach our sales targets,” citing:

• The Star Wars brand being in “choppy waters.”

• The game needing further polish at launch.

• No availability on Steam at launch (Ubisoft Store exclusive on PC).

• A glutted marketplace with minimal word-of-mouth.

• Source: “Star Wars Outlaws Did Not Meet Ubisoft Sales Expectations,” Game Rant, 2024.

• Source: “‘Star Wars Outlaws’ Sold 1 Million Copies In One Month, A Comparatively Low Sales Figure for Ubisoft,” Star Wars News Net, 2024.

• Source: “Three reasons Star Wars Outlaws might have undersold,” Game Developer, 2024.

Stock Impact

Within two days of the game’s release, Ubisoft’s stock dropped over 10%. The share price sank to a 10-year low following the launch — the market’s verdict on Ubisoft’s ability to execute on major licensed IP.

• Source: “Ubisoft Hits 10-Year Low Share Price Following Star Wars Outlaws Launch,” The Gamer, 2024.
• Source: “Ubisoft Stock Sinks To 10-Year Low As Star Wars Outlaws Underperforms,” GameSpot, 2024.

4. Skull and Bones (February 2024)

Development Hell: 11 Years

Skull and Bones began development in 2013 as an expansion of Assassin’s Creed IV: Black Flag. Over the next decade:

• It was reimagined as an MMO spinoff (“Black Flag Infinite”).
• Spun off as an independent project.
• Moved from the Caribbean to the fantastical “Hyperborea,” then to East Africa and Southeast Asia.
• Redesigned multiple times — naval exploration, ship-to-ship combat, then land-based survival inspired by Rust.
• Delayed seven times.
• The project reportedly cost Ubisoft approximately $200 million.

It finally released on February 16, 2024 for PS5, Windows, and Xbox Series X/S.

• Source: “Skull and Bones (video game),” Wikipedia, citing multiple primary sources.

Reception and Abandonment

• Metacritic: Mixed/average reviews. 57 (PC) to 64 (PS5) critic score. User score: 3.5/10.

• Player count: Approximately 850,000 players in first week (including free trial). Total player count never reached 1 million.

• Steam concurrent players dropped to roughly 200 — fewer than Assassin’s Creed IV: Black Flag, the 2013 game that inspired it.

• Ubisoft reportedly did not expect to recoup its $200 million development costs.

• Source: “EXCLUSIVE - Skull and Bones Has Less Than 1 Million Players Total, Including Free Trial Players,” Insider Gaming, 2024.

• Source: “Skull and Bones sinks on Steam, has fewer players than AC Black Flag,” PCGamesN, 2024.

• Source: “Report: Skull and Bones attracted just 850k players in its first week,” Game World Observer, February 22, 2024.

5. XDefiant (May–December 2024)

Launch and Collapse

XDefiant, a free-to-play arena shooter drawing on Ubisoft’s Tom Clancy IP, launched on May 21, 2024. It became Ubisoft’s fastest game to reach 5 million players and ultimately attracted over 15 million total players. But the playerbase collapsed rapidly.

On December 3, 2024, Ubisoft announced XDefiant’s permanent shutdown. Servers were sunset after a final update, with full shutdown on June 3, 2025.

Marie-Sophie de Waubert (Chief Studios and Portfolio Officer): “Despite an encouraging start, the team’s passionate work, and a committed fan base, we’ve not been able to attract and retain enough players in the long run to compete at the level we aim for in the very demanding free-to-play FPS market.”

• Source: “Ubisoft’s XDefiant Is Officially Shut Down,” GameSpot, December 2024.
• Source: “Ubisoft to Shut Down ‘XDefiant,’ Nearly 300 Employees Laid Off as San Francisco and Osaka Game Studios Close,” Variety, December 2024.

Studio Closures from XDefiant’s Failure

The shutdown directly caused:

• Closure of Ubisoft San Francisco (143 employees laid off).

• Closure of Ubisoft Osaka.

• Reduction of Ubisoft Sydney.

• Total: approximately 277 employees impacted.

• Source: “XDefiant is shutting down as Ubisoft closes San Francisco and Osaka offices,” GamesRadar+, December 2024.

6. Stock Price Collapse

The Arc

Total decline from all-time high to March 2026: approximately 96–97%.

52-week range (as of March 2026): EUR3.86 – EUR14.48.

• Source: “Ubisoft Stock Price – UBI Chart,” TradingView, accessed March 2026.
• Source: “Ubisoft (UBI.PA) - Stock price history,” CompaniesMarketCap, accessed March 2026.

Financial Results: FY 2024-25

• Net bookings: EUR1,846.4 million — down 20.5% from EUR2,321.4 million in FY 2023-24.

• Q3 2024-25 net bookings: EUR301.8 million — down 51.8% year-on-year.

• Non-IFRS operating income: EUR(15.1) million (vs. EUR401.4 million prior year).

• Non-IFRS net income: EUR(70.7) million / EPS of EUR(0.56) (vs. EUR252.0 million / EUR1.79 prior year).

• Source: “Ubisoft Reports Full-Year 2024-25 Earnings Figures,” GlobeNewsWire, May 14, 2025.

7. The Guillemot Family Control Structure

How It Works

Ubisoft was founded by the five Guillemot brothers in 1986. The family maintains control through:

• Guillemot Brothers SE: Holds 14.99% of share capital but 22.37% of voting rights (as of March 31, 2024) via double voting rights on long-held shares (a mechanism under French corporate law).
• Staggered board elections: Four-year terms make hostile takeover via board seats extremely slow.
• Concert party: The Guillemot family operates as a “concert” (acting in concert) under French securities law, aggregating family holdings for voting purposes.

Vivendi Precedent (2015–2018)

Vivendi (the media conglomerate behind Universal Music Group) built a 27% stake in Ubisoft from 2015 to 2018, becoming the largest shareholder. Ubisoft treated this as a hostile takeover attempt and deployed multiple defenses:

• Enlisted Tencent as a strategic investor.
• Secured buy-in from the Ontario Teachers’ Pension Plan.
• Conducted share buybacks.
• Aggressively courted Canadian institutional investors.

Vivendi was forced to withdraw in March 2018 and sold its remaining shares in 2019.

• Source: “Vivendi Sells Remaining Ubisoft Shares After Failed Takeover Attempt,” Variety, 2019.
• Source: “Ubisoft fights off takeover by entertainment giant Vivendi,” Engadget, March 20, 2018.

Tencent’s Position

Tencent holds a 49.9% economic stake in Guillemot Brothers Ltd., but only 5% voting rights — a structure designed to bring in capital without ceding control. Tencent also holds 9.2% of Ubisoft’s net voting rights directly.

The Vantage Studios Deal (March 2025)

Announced March 27, 2025. Completed November 21, 2025. Tencent invested EUR1.16 billion for a 26.32% economic interest in Vantage Studios (a new subsidiary housing Assassin’s Creed, Far Cry, and Rainbow Six). Pre-money enterprise value: EUR3.8 billion.

Vantage Studios became fully operational October 1, 2025, led by co-CEOs Charlie Guillemot (Yves’s son) and Christophe Derennes. Ubisoft retains exclusive control and consolidation.

The deal was structured to avoid triggering a mandatory public offer, keeping power with the Guillemot family. AJ Investments objected, seeking to restrict Tencent’s voting on the matter and limit Guillemot influence.

• Source: “Ubisoft Announces the Completion of Tencent’s Strategic Investment in Vantage Studios,” GlobeNewsWire, November 21, 2025.
• Source: “Tencent’s $1.25 billion bet on Vantage Studios: a turning point for Ubisoft?” TechNode, November 28, 2025.
• Source: “Ubisoft Stock Collapses Below EUR10 as Shareholder Revolt Erupts Over Tencent Deal,” That Park Place, April 2025.

AJ Investments Shareholder Revolt (September 2024)

On September 9, 2024, minority shareholder Juraj Kurpa published an open letter through AJ Investments calling Ubisoft “mismanaged” and shareholders “hostages of the Guillemot family members and Tencent.” AJ Investments believed Ubisoft should be worth EUR40–45 per share; the stock was trading at EUR13.74.

Demands included:

• Take the company private with Tencent as a significant partner.

• Allow a sale process to a strategic investor, or let the Guillemots buy out minorities at fair price.

• Reduce costs (layoffs, studio sales).

• Focus on core IPs.

• Replace Yves Guillemot as CEO.

• Source: “AJ Investments Demands Ubisoft Entertainment to Go Private After Stock Drop,” MarketScreener, September 10, 2024.

• Source: “Activist Ubisoft Investor Calls for ‘Strategic and Structural Change,’” TechRaptor, 2024.

8. Workforce: Layoffs, Closures, Strikes

Cumulative Job Losses (November 2023 – January 2026)

• Source: “Ubisoft Layoffs: More than 600 Jobs Lost So Far,” Udonis, 2025.
• Source: “Ubisoft takes drastic measures: 185 layoffs and a studio closure,” NotebookCheck, January 2025.
• Source: “Ubisoft Cancels Prince Of Persia Remake And 5 Other Games As Part Of Major Organizational Reset,” Game Informer, January 21, 2026.

Return-to-Office Strike (October 2024)

In October 2024, Ubisoft mandated three-days-per-week in-office work. The French union STJV called a three-day strike (October 15–17). Over 700 French staff across Paris, Montpellier, Lyon, and Annecy walked out. Italian staff joined. This was the second strike of 2024 — the first was over pay.

The union noted Ubisoft rolled out the policy “without any tangible justification or any consultation with the workers’ representatives” and that many employees had relocated away from offices during five years of remote work.

• Source: “Over 700 Ubisoft workers go on three-day strike to protest company’s new return-to-office policy,” Game World Observer, October 16, 2024.
• Source: “Ubisoft’s Italian staff join French peers in striking return-to-office mandate,” Game Developer, October 2024.

January 2026 “Major Reset”

Ubisoft cancelled six games (including the long-troubled Prince of Persia: The Sands of Time remake, three unannounced new IPs, and a mobile title), delayed seven others, and announced further studio closures. Described as a response to “a never-before-seen level of competition” and “the growing challenge for publishers to create brands in a context of higher costs.”

The Prince of Persia remake had been announced in September 2020 with a 2021 launch, shifted studios from Ubisoft Mumbai/Pune to Ubisoft Montreal in 2022, resurfaced at Ubisoft Forward 2024 with a 2026 window, reconfirmed in June 2025, and then killed in January 2026.

• Source: “Ubisoft Cancels Prince Of Persia Remake And 5 Other Games As Part Of Major Organizational Reset,” Game Informer, January 21, 2026.
• Source: “Prince of Persia: The Sand of Time Remake is cancelled as Ubisoft announces major internal restructuring,” PC Gamer, January 2026.

9. The Pattern: How It Compounded

The Ubisoft collapse is not a single-cause story. It is a case study in compounding institutional failure:

Internal Culture (2020 onward)

The sexual harassment revelations of 2020 exposed a company where the most powerful creative executives operated with impunity. HR was complicit. The chief creative officer who controlled which games got made was himself accused of drugging employees. When ABetterUbisoft organized, management ignored every demand. The French criminal convictions in 2025 confirmed that the culture was not a matter of perception — it was criminal.

Creative Stagnation

Serge Hascoet’s unchecked power as CCO meant one man’s taste dictated Ubisoft’s entire portfolio for over a decade. When he was removed, the creative vacuum was filled by Yves Guillemot personally — a CEO, not a creative leader. The result: a company that kept greenlighting the same open-world formula while competitors innovated. Skull and Bones spent 11 years and $200 million proving that no amount of money can substitute for creative direction.

Market Misreads

• Star Wars Outlaws: Massive budget on a licensed game at a moment when the Star Wars brand was weakened, launched without Steam, in a crowded market.
• XDefiant: Entered the free-to-play FPS market against Fortnite, Apex Legends, Valorant, and Call of Duty: Warzone — drew 15 million players and couldn’t retain them. Dead in seven months.
• Skull and Bones: Launched a decade too late into a market that had moved on from the concept.

The Yasuke Miscalculation

Whether or not the Yasuke casting was defensible historically, Ubisoft’s marketing and initial positioning invited backlash they were unprepared to handle. The delay-and-rework cycle validated critics’ claims that the decision was ideological rather than creative. That the game ultimately sold well does not undo the reputational damage or the months of negative coverage.

Corporate Governance as Fortress

The Guillemot family’s control structure — double voting rights, concert party arrangements, staggered boards, and now the Vantage Studios carve-out — has successfully prevented hostile takeover for decades. But the same structure that kept Vivendi out now traps minority shareholders in a company that has lost 97% of its peak value. The Tencent deal was structured to bring in EUR1.16 billion without ceding control, and shareholders revolted because it was designed to benefit the family, not the company.

The Feedback Loop

Internal culture problems led to creative stagnation. Creative stagnation led to market failures. Market failures led to stock collapse. Stock collapse led to layoffs and studio closures. Layoffs destroyed morale and drove talent exodus. Talent exodus deepened creative stagnation. The family governance structure prevented any external force from breaking the cycle.

Ubisoft in 2026 is a company that has:

• Lost 97% of its peak stock value.
• Laid off 750+ employees in two years.
• Shut down or restructured at least seven studios.
• Cancelled six games in a single announcement.
• Had three former executives criminally convicted for harassment.
• Had its CEO subpoenaed to testify about that harassment.
• Carved out its three most valuable franchises into a subsidiary partially owned by a Chinese conglomerate.
• Appointed the CEO’s son to run that subsidiary.

The fire is not out.

Source URLs

Sexual Harassment / Legal

• “2020 Ubisoft sexual misconduct litigation and accusations,” Wikipedia
• “Top Ubisoft Executives Out Amid Allegations Of Company-Wide Misconduct,” Kotaku, July 2020
• “Ubisoft exec Beland resigns after harassment and assault allegations,” Game Developer, July 2020
• “Tommy Francois has left Ubisoft amidst abuse & harassment investigation,” TheSixthAxis, August 2020
• “Assassin’s Creed Creative Director Fired From Ubisoft Following Investigation Into Misconduct,” Kotaku, August 2020
• “French Police Arrest Five Former Ubisoft Executives After Sexual Assault, Harassment Investigation,” Game Informer, October 4, 2023
• “French court convicts ex-Ubisoft bosses for workplace harassment,” France 24, July 2, 2025
• “Psychological humiliation and sexual harassment: Three former Ubisoft execs on trial in France,” Euronews, June 2, 2025
• “Ubisoft CEO summoned to appear before French court in relation to harassment trial,” PC Gamer, August 2025
• “Ubisoft workers slam bosses in open letter over handling of #MeToo scandals,” Axios, July 28, 2021
• “A Better Ubisoft, now a year old, says none of its demands have been met,” Game Developer, 2022

Assassin’s Creed Shadows / Yasuke

• “Ubisoft Responds To Assassin’s Creed Shadows Controversy As Petition To Cancel The Game Nears 100k,” Screen Rant, 2024
• “Following Fan Outrage, Assassin’s Creed Shadows Is Being Investigated By The Japanese Government,” Screen Rant, 2024
• “AC Shadows Delay Was Result Of Yasuke Backlash, Ubisoft Says,” GameSpot, 2025
• “Assassin’s Creed Shadows introduces a black samurai – that’s not as unprecedented as critics claim,” The Conversation, 2024
• “Assassin’s Creed Shadows is the best-selling game of March 2025 in the US,” Windows Central, 2025

Star Wars Outlaws

• “Star Wars Outlaws Did Not Meet Ubisoft Sales Expectations,” Game Rant, 2024
• “‘Star Wars Outlaws’ Sold 1 Million Copies In One Month,” Star Wars News Net, 2024
• “Ubisoft Stock Sinks To 10-Year Low As Star Wars Outlaws Underperforms,” GameSpot, 2024
• “Three reasons Star Wars Outlaws might have undersold,” Game Developer, 2024

Skull and Bones

• “EXCLUSIVE - Skull and Bones Has Less Than 1 Million Players Total,” Insider Gaming, 2024
• “Skull and Bones sinks on Steam, has fewer players than AC Black Flag,” PCGamesN, 2024
• “Report: Skull and Bones attracted just 850k players in its first week,” Game World Observer, February 22, 2024

XDefiant

• “Ubisoft’s XDefiant Is Officially Shut Down,” GameSpot, December 2024
• “Ubisoft to Shut Down ‘XDefiant,’ Nearly 300 Employees Laid Off,” Variety, December 2024

Financial / Stock

• “Ubisoft Reports Full-Year 2024-25 Earnings Figures,” GlobeNewsWire, May 14, 2025
• “Ubisoft shares skyrocket 33% after report Tencent, Guillemot family considering buyout,” CNBC, October 4, 2024
• “AJ Investments Demands Ubisoft Entertainment to Go Private After Stock Drop,” MarketScreener, September 10, 2024
• “Ubisoft Stock Collapses Below EUR10 as Shareholder Revolt Erupts Over Tencent Deal,” That Park Place, April 2025

Corporate Governance / Vivendi / Tencent

• “Vivendi Sells Remaining Ubisoft Shares After Failed Takeover Attempt,” Variety, 2019
• “Ubisoft fights off takeover by entertainment giant Vivendi,” Engadget, March 20, 2018
• “Ubisoft Announces the Completion of Tencent’s Strategic Investment in Vantage Studios,” GlobeNewsWire, November 21, 2025

Workforce / Layoffs / Strikes

• “Ubisoft Layoffs: More than 600 Jobs Lost So Far,” Udonis, 2025
• “Ubisoft takes drastic measures: 185 layoffs and a studio closure,” NotebookCheck, January 2025
• “Over 700 Ubisoft workers go on three-day strike,” Game World Observer, October 16, 2024
• “Ubisoft Cancels Prince Of Persia Remake And 5 Other Games As Part Of Major Organizational Reset,” Game Informer, January 21, 2026