Iron Galaxy Studios, known for its work on Rumbleverse and Tony Hawk Pro Skater 3+4, has announced a restructuring involving layoffs. The company aims to cut costs and achieve sustainability amidst a challenging industry landscape.
What happened
Iron Galaxy Studios announced a downsizing initiative to restructure and cut costs. The announcement was shared on LinkedIn, with details reported by Game Developer. This marks another setback for the studio after the shutdown of Rumbleverse in 2023.
How many employees affected
The exact number of employees affected by the layoffs has not been disclosed.
Why layoffs happened
According to Iron Galaxy, changes in the industry over the past few years have made it impossible to maintain its current team size. The studio is aiming to achieve sustainability through this restructuring.
Company background
Iron Galaxy Studios gained recognition for its work on the second and third seasons of Killer Instinct. It later developed Rumbleverse, a wrestling battle royale live-service game that was shut down in 2023. CEO Adam Boyes departed after a previous layoff of 66 employees. The studio was also attached to develop Tony Hawk’s Pro Skater 3+4.
Industry impact
This marks another instance of game studios facing difficulties in the current industry climate, leading to restructuring and workforce reductions.
What's next
Iron Galaxy Studios will continue to operate, with the hope that the restructuring will lead to long-term sustainability. Further updates are expected as the situation develops.
Source: shacknews.com