A new report from VGC claims Free Radical Design will be shutting down on December 11. The studio, best known for the TimeSplitters franchise, was under evaluation by parent company Embracer to see if it warranted closure.
08.11.2023 - 21:39 / gamingbolt.com
It was announced back in 2021 that TimeSplitters developer Free Radical Design had been re-established and that a revival of the sci-fi first person shooter IP had entered development, but it seems the project might be short-lived.
As per a report by VGC, Embracer Group – parent company of Plaion, the label under which Free Radical Design operates – is on the verge of closing down the studio. Employees have reportedly been informed that the studio could be shuttered amidst an ongoing internal review, and though there is a possibility that that doesn’t happen, it seems like a slight one, especially with 15 Free Radical employees having confirmed their departure from the studio on LinkedIn.
If the studio does indeed get shut down, it will remain to be seen what will become of the TimeSplitters IP. Fellow Embracer-owned studio Volition was shut down earlier this year, though it was confirmed afterward that Volition properties Saints Row and Red Faction would continue under other studios.
These closures come as part of an ongoing restructuring program at Embracer Group, which was announced earlier in the year, with the company suffering financial setbacks after failing to close a deal with Savvy Group worth $2 billion earlier in 2023. That restructuring program has also entailed layoffs at Tomb Raider developer Crystal Dynamics, while Embracer is reportedly also looking for buyers for Borderlands developer Gearbox Entertainment.
In September, the company confirmed that it would be closing “a few” more studios over the coming months.
A new report from VGC claims Free Radical Design will be shutting down on December 11. The studio, best known for the TimeSplitters franchise, was under evaluation by parent company Embracer to see if it warranted closure.
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Embracer Group, the Swedish video game and media holding corporation responsible for a wide range of intellectual properties and game studios, has announced that it's laid off a total of 900 employees over the past three months.
Embracer Group CEO Lars Wingefors has chosen not to deny reports that Timesplitters studio Free Radical Design faces closure.
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2023 has been an utterly miserable time to be working in the video game industry. Announcements of layoffs from some of the biggest names around have been dominating news sections lately. While we already knew Embracer Group was one of them, we now know the figures.
Embracer Group has said it has laid off 904 staff, or 5% of its workforce, since its financial struggles began following the collapse of a $2 billion deal, reportedly with Saudi government funded company Savvy Games Group.
It’s been a brutal year for the games industry with widespread layoffs having hit a number of developers and publishers over the last several months, and Embracer Group has been one of several companies that have been impacted. After failing to close a deal with Saudia Arabia’s Savvy Games Group worth $2 billion, the company started a restructuring program earlier in 2023, and that has resulted in a significant reduction in its total workforce.
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