French video game giant Ubisoft has cancelled six games, including the much-anticipated Prince of Persia: The Sands of Time remake. The company also closed two studios in Stockholm and Halifax and delayed seven other games as part of a 'major reset' of its business operations. Ubisoft CEO Yves Guillemot said these steps will 'create the conditions for a return to sustainable growth.' Despite the popularity of remakes, like Super Mario Galaxy and Metal Gear Solid 3 recently, Ubisoft chose to stop the Sands of Time remake, surprising many fans. The cancellations include four unannounced titles, three of which are new intellectual properties, plus a mobile game. The Halifax studio closure was announced earlier in January, coinciding with the studio's union formation. Guillemot stated, 'While these decisions are difficult, they are necessary for us to build a more focused, efficient and sustainable organisation over the long term.' Gaming analyst Piers Harding-Rolls explained that Ubisoft is focusing on safer bets with established franchises such as Assassin’s Creed and Rainbow Six, rather than new, risky IPs. This reset follows a 2025 job cut of 185 employees and studio closures in the UK. Guillemot cited rising development costs and intense competition in the triple-A games market for the restructure. He also said that despite delays in major games like Grand Theft Auto VI, blockbuster titles can offer 'more financial potential than ever.' Ubisoft will now focus on open-world adventure games and live service models, aiming to turn key franchises into billion-dollar annual brands. The company’s subsidiary Vantage Studios, supported by a €1.25 billion investment from Tencent, will help boost games like Assassin’s Creed, Far Cry, and Rainbow Six. Following the announcement, Ubisoft shares fell sharply by 33% on Thursday morning.