Avalanche Studios has told GI that is preparing to lay 77 of its 160-strong staff after the company missed out on two publishing contracts this year worth an estimated $34m.
“We have given notice that it’s our intention to lay off 77 people,” said CEO Christofer Sundberg. “We have lost two publisher deals this year – those deals were worth around USD 34 million.”
“We lost the first deal in February but we could survive that one because we had a shortage of staff in other projects and we decided to put together a team to work on a original IP that we had in development. But the team that were working on a project that was terminated last week – there were about 67 people on that team.”
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By Mike Bowden