Thunderful Announces Up to 100 Layoffs Amid Second 2024 Restructuring Initiative

Thunderful Faces Further Workforce Reductions as Company Shifts Focus to Third-Party Publishing In a significant move for the European gaming industry, Thunderful has confirmed another major restructuring initiative, which is expected to result in up to 100 redundancies.

The Swedish publisher, known for titles available on the Nintendo Switch and other platforms, unveiled this plan as part of a broader effort to streamline operations and ensure the company’s long-term sustainability in a challenging market landscape. Thunderful’s latest restructuring, first reported by GamesIndustry.biz, signals a shift in strategic priorities.

The publisher will now place greater emphasis on third-party publishing while reducing investment in internal game development projects.

As a result, numerous roles within Thunderful’s development teams, along with positions in administration and management, are being made redundant. This announcement follows an earlier restructuring program initiated by Thunderful at the beginning of 2024.

That effort, which also included significant layoffs, brought what the company described at the time as a "significant reduction in cost levels." Despite these previous adjustments, Thunderful acknowledged missing its revenue targets and continuing to face ongoing negative cash flow in recent quarterly reports. According to official company estimates, this fresh round of layoffs is intended to save Thunderful between SEK 80 million (approximately $7.2 million USD) and SEK 90 million ($8.1 million USD) annually.

The restructuring is part of a calculated move to optimize fixed costs, enhance business flexibility, and place greater control over cash flow—all critical steps as the video game sector becomes more competitive and publisher margins tighten. Thunderful CEO Martin Walfisz addressed the workforce reduction in a company statement, emphasizing the necessity of the difficult decision.

Walfisz explained that although executing a second restructuring program within a year is unfortunate, the company sees no viable alternatives to safeguard Thunderful’s future viability.

He highlighted that focusing more intensively on publishing third-party games is expected to make the company’s financial position more resilient for the long term.

Walfisz further noted the high caliber and devotion of Thunderful’s staff, expressing regret over the departures necessitated by this move. Founded in 2017, Thunderful has developed and published several notable titles for the Nintendo Switch and other major hardware platforms.

The company’s extensive back catalog includes games developed both internally and via partnerships with independent studios, making it a significant presence in the European games sector.

As the publisher pivots to an increased third-party focus, industry stakeholders will be closely watching Thunderful’s next steps on the Nintendo eShop, future Nintendo Direct showcases, and beyond. This second wave of restructuring reflects broader trends in the video game industry, where shifting market conditions, increased development costs, and evolving platform dynamics like those on the Nintendo Switch continue to drive operational changes at established companies.

Thunderful GamingIndustry.biz Martin Walfisz Nintendo Switch