Ubisoft employees on strike via L’Humanité on X
Around 700 Ubisoft employees at its French studios have reportedly gone on strike in response to the company requiring employees to begin working at the office as opposed to work-from-home.
A screenshot from Assassin’s Creed Shadows (2024), Ubisoft
Back in September, The French video game union Syndicat des Travailleurs·ses du Jeu Vidéo called for Ubisoft employees to strike on October 15, 16, and 17th after the company demanded employees begin working in the company’s offices for 3 days per week for all employees.
The union also shared that it believes Ubisoft made this move given it knows “the consequence of its decision will be the loss of our colleagues’ jobs, the disorganization of many game projects, and the drastic increase in psychosocial risks for those who remain.”
A screenshot from Assassin’s Creed Shadows (2024), Ubisoft
Furthermore, it noted, “This decision is announced immediately after the failure of the profit-sharing negotiations. Exactly like previous salary negociations: management’s proposals were innaceptable, the negociations’ timetable was appalling, and management was deaf to the proposals of the various Employee representatives.”
Given this the union stated, “To express our anger, we call all Ubisoft employees in France to a first strike on October 15, 16 and 17.”
A screenshot of Star Wars Outlaws (2024), Ubisoft
It also shared its demands. First, it wants “A formal agreement on remote work: with a due process of real negotiation between management and unions. Not an arbitrary decision taken several months in advance. One which guarantees that each person can freely choose its number of remote days and when they are in the week, as well as being counted by the month and not by the week.”
Second, the union demands, “An immediate increase in all salaries to compensate for the drop in our living standards in recent years. The restoration of the profit-sharing at a 60% objective. The end of the gender pay gap and a higher increase in low salaries.”
And finally, it wants Ubisoft to listen to “employees opinions by the implementation of a “social dialogue” worthy of the name. Management seems indeed to confuse monologue with dialogue.”
A screenshot from Tom Clancy’s Splinter Cell Blacklist (2013), Ubisoft
Reportedly around 700 employees did go on strike in France according to Le Monde. The outlet noted, “AFP saw around 50 people on a picket line in Montpellier and more than 100 in Paris, with Ubisoft offices in Annecy and Lyon also affected. The STJV union said more than 700 were taking part.”
One employee informed the outlet, “How long will it be before they start laying off workers and downgrading their ambitions?” She also described the atmosphere as “gloomy.”
Key art for XDefiant (2024), Ubisoft
A number of employees also spoke with French news outlet L’Humanité.
READ: Rumor: Ubisoft Intentionally Pushed Yasuke In ‘Assassin’s Creed Shadows’ To Tank Company’s Stock Price So Tencent Could Take Over
According to the union, the strike has spread outside France and into Italy as well. It posted on X, “Today, workers at Ubisoft Milan are also on strike, against a return to 3 days a week in office.”
It added, “Full support to them, and to Federazione Impiegati Operai Metallurgici.”
The strikes come amid Ubisoft finding itself in dire financial straits. Back in September, the company significantly lowered its Q2 net bookings from €500 million to between €350-370 million. A decline of 30%. Furthermore, the company also stated, “The Company now expects net bookings of around €1.95bn, and around break-even non-IFRS operating income and free cash flow” for the fiscal year.
That expectation is down nearly 16% from last year where the company reported it had total net bookings of €2.321 billion.
A screenshot of Skull and Bones (2024), Ubisoft
The company also finds itself accused by Slovakian investment firm AJ Investments of intentionally manipulating its stock price alongside Chinese developer and investor Tencent.
The firm alleged in an open letter in September, “We believe that Guillemot family and Tencent are discounting potential value of Ubisoft in order to buy more shares at lower valuation and eventually take full control of the company at heavily discounted valuation. We value the great work that has been done by the Guillemots over the decades in the Ubisoft but now is time to move on and restart the business with new shareholder approach and new management/CEO.”
Furthermore, it even pointed to Ubisoft delaying titles as being part of this strategy, “In our view, recent delays of certain titles there are creating uncertainty amongst investors is beneficial for Guillemot and Tencent in order to acquire more shares at even discounted valuation as Ubisoft is currently trading close to 15 EUR per share lowest point since 2015, giving Ubisoft valuation less than 2 billion EUR.”
A screenshot from Beyond Good & Evil – 20th Anniversary Edition (2024), Ubisoft
The firm also alleged that the Guillemot family and Tencent’s collaboration blocked “potential acquisitions and partnerships that could have been beneficial for the company and its shareholders.”
It cited a possible acquisition by KKR and Blackstone, “More recently, in 2022, private equity firms such as KKR and Blackstone expressed interest in acquiring Ubisoft, but were unable to proceed due to existing agreements that prevent any single entity from gaining control without Guillemot and Tencent’s consent. This pattern of blocking potential acquisitions has prevented much-needed restructuring and revitalization that will benefit all the stakeholders of Ubisoft.”
Yasuke executes an innocent man pressed into a fight in Assassin’s Creed Shadows (2024), Ubisoft
READ: Ubisoft Might Cut Staff By 40% Or Around 8,000 People Amid Rumors Of Buyout
A rumor from an alleged Ubisoft insider also informed YouTuber Endymion who shared that Ubisoft “was using the implementation of [Yasuke] into their game to steer the public reception of not only Shadows, but Ubisoft as a company in general towards a scenario that would actually lead to a buyout.”
He explained, “As I was told Tencent allegedly was a big pusher of Yasuke becoming the main character of Shadows. Ubisoft, of course, was considering the idea, but Tencent was really the ones that pushed that vision into reality.
“Allegedly, Yasuke was pushed because Tencent knew the inclusion of his character as the leading man in a Japanese Assassin’s game would raise many eyebrows and cause public outcry, which I mean they’re right, it did exactly that,” he continued. “And the discussion surrounding the game has not died down since for good reason.”
“As I’m told decisions like implementing Yasuke, which would lead to many boycotting the game was something pushed by Tencent investors to purposely tank Ubisoft in order to weaken the company towards an acquisition effectively leading to Ubisoft as know becoming far weaker, worth far less than it should be, and placing itself plump and ready for Tencent to waltz in and swallow the entire company whole and obtain them,” he stated.
A screenshot from Assassin’s Creed Shadows (2024), Ubisoft
A Bloomberg report by Vinicy Chan, Dong Cao, and Benoit Berthelot claimed at the beginning of this month that Tencent Holdings Ltd. and the Guillemot family were “considering options including a potential buyout of the French video game developer after it lost more than half its market value this year, according to people familiar with the matter.”
The reported added, “The Chinese tech company and Guillemot Brothers Ltd. have been speaking with advisers to help explore ways to stabilize Ubisoft and bolster its value, the people said, asked not to be identified discussing a private matter. One of the possibilities being discussed would involve teaming up to take the company private, according to the people.”
A screenshot from Star Wars Outlaws (2024), Ubisoft
An Ubisoft spokesman appeared to confirm this report telling VGC, “Ubisoft has noted recent press speculation regarding potential interests around the Company. It regularly reviews all its strategic options in the interest of stakeholders and will inform the market if and when appropriate.”
The spokesman added, “The Company reiterates that management is currently focused on executing its strategy, centred on two core verticals – Open World Adventures and GaaS-native experiences.”
A screenshot of Prince of Persia: The Lost Crown (2024), Ubisoft
What do you make of these Ubisoft employees striking the company? What do you make of the strike spreading to Italy?
