VR studio nDreams has proposed a major restructuring that would close two internal studios, Near Light and Compass, placing 78 employees at risk of redundancy including executive team members. The company plans to center its restructured business around its Elevation studio (~120 staff) and maintain a lean R&D group focused on emerging XR technologies. CEO Tim Gillo cited persistent commercial challenges in the VR games market as the driving force. This follows a similar round of studio closures and a 17.5% workforce reduction roughly a year prior. nDreams is owned by Swedish conglomerate Aonic, which acquired it for $110 million in 2023.
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