Ubisoft outlined their plans for restructuring during this month’s investor presentation, making mention of "many" cancelled games in the process. In the past six months, Ubisoft cut 200 employees from their distribution business and internal studios.
We know of at least one of these cancelled titles, although there are several more.
There is an unnamed Nintendo 3DS project, which consisted of minigames in some form. Once this title was cancelled, one of the designers creating minigames for it went on to develop Michael Jackson: The Experience for Nintendo DS and PSP.
Ubisoft absorbed a one time €62 million loss ($84) related to cancelled games following the company’s reorganization.