Gameloft has closed seven unprofitable studios in 2015

So far in 2015, French mobile publisher Gameloft has closed seven of its development studios.

That’s according to a statement from the company’s CEO Michel Guillemot, which said that the development studios had becoming ‘unprofitable’.

These closures are part of what Guillemot describes as ‘an ambitious cost reduction program’.

It’s not clear what studios Gameloft has closed down, but there have been reports of layoffs at the firm’s Tokyo studio.

This first-half loss is due to the seasonality of our business as well as to the disappointing level of revenues achieved by the three games developed by Gameloft specifically for the Japanese and Chinese markets,” said Guillemot.

In order to return to profitability in the second half of 2015, and to past profitability levels in the medium term, Gameloft has initiated an ambitious cost reduction program since the start of the year and in the process closed seven development studios that had become unprofitable.

"Gameloft has a massive audience, strong brands, solid recurring revenues, growth opportunities ahead and a healthy financial situation. We therefore continue to look to the future with confidence."