Nascar Rivals developer Motorsport Games has cut around 38 jobs in a recent round of layoffs, mostly affecting roles in the UK and Australia.
The Miami-based studio cut approximately 40% of its workforce worldwide “to bring down its year-over-year operating expense,” as detailed in a SEC filing on October 29.
Its restructuring program is estimated to be approximately $400,000 to $500,000 consisting of severance and redundancy costs to employees, the majority of which will be paid in the fourth quarter of its fiscal year 2023.
