"This downsizing comes after Ubisoft announced a massive organizational restructure in January. This kicked off an ongoing cost-cutting program that has led to several other layoffs and project cancellations, including its long-awaited remake of The Prince of Persia: The Sands of Time. In an effort to bounce back after a rough last few years, Ubisoft has formed a new operating model around five "creative houses", each responsible for developing titles for Ubisoft properties; Tom Clancy IPs like Ghost Recon, Splinter Cell, and The Division fall under "Creative House 2", for example. According to the publisher, the structure was created to facilitate an increased focus on open-world games and games-as-a-service, while accelerating its investment in "player-facing generative AI." From GameInformer.
More information also here: https://www.gamesindustry.biz/ubisoft-reveals-new-creative-house-structure-cancels-games-and-announces-final-round-of-cost-cutting-and-studio-closures-to-drive-200m-savings