Ubisoft announced another cancellation of some unannounced projects and lowered its forecast operating income for the 2022-23 fiscal year (ending in March 2023) by $1 billion, according to Axios.

The company blamed the problems on macroeconomic conditions, suggesting that other gaming companies may also be experiencing similar difficulties. But in reality, problems at Ubisoft have been going on for several years.

According to a press release, Ubisoft has canceled three unannounced games for the app. Four more were canceled in the summer of 2022. In addition, company management expects game sales, DLC purchases, and revenue from other transactions to decline 10%, rather than grow 10% as previously forecast.

Over the next two years, Ubisoft plans to save nearly $200 million through “targeted restructuring, divesting some non-core assets and usual natural attrition.” Axios writes that the employees who worked on the canceled games will move on to other projects.

And of course, what Ubisoft press release would do without information about the next postponement of Skull & Bones. A long-suffering pirate game that has already been delayed many times, will not be released in March 2023. It will happen sometime in the next fiscal year, which will begin in April 2023.

According to Axios journalists, with whom we fully agree, the crisis in the quality of Ubisoft’s games began with the release of Ghost Recon Breakpoint in 2019. Morale at the company took a further hit in mid-2020 after widespread allegations of sexual misconduct at the company. Apart from Assassin’s Creed Valhalla, which continues to bring the company the most money, Ubisoft has had almost no really notable and quality releases in the last two years, except maybe Immortals Fenyx Rising and Mario + Rabbids Sparks of Hope.

Stay afloat, Ubisoft! Stay afloat!