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Free Radical Design may shutdown
08.11.2023 - 18:51 / gamesindustry.biz / Steve Ellis / David Doak
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Embracer's ongoing restructuring program could also include TimeSplitters maker Free Radical Design.
As reported by VGC, per sources close to the matter, staffers at the developer have been informed it could close up shop per evaluation of the game developer.
However, per UK law, employees must be consulted at minimum a month before any job cuts, which also includes considering any business options available to forgo job cuts.
VGC notes there's a possibility that Free Radical Design could also remain open if any third party is interested in its acquisition.
Free Radical Design was initially established in 1999 by Steve Ellis, David Doak, and Karl Hilton. It went on to develop titles such as the TimeSplitters franchise, Second Sight, and Haze. The studio went bankrupt in 2008, and 2009, it was saved by Crytek. Eventually, the TimeSplitters IP was acquired by Koch Media in 2018.
In 2021, founders Ellis and Doak reformed Free Radical Design to develop a new TimeSplitters title.
Embracer's restructuring program, announced in June, was created to reduce its debt after the collapse of a deal that was expected to be worth at least $2 billion.
This restructuring has seen job cuts at Crystal Dynamics, Gearbox Publishing, Beamdog, Zen Studios, Digic, and Cryptic Studios, as well as the closure of Campfire Cabal and Saints Row maker Volition.
Earlier this week, Egil Strunke, chief operating officer of Embracer, announced his exit from the firm.
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