I’d expected 38 Studios’ death spiral to go on for a while longer, but the plug has been unceremoniously pulled on the Kingdoms of Amalur developer: 38 Studios has laid off its entire staff of 379. Whether this will result in the company defaulting on its $50 million loan, leading the state of Rhode Island to assume ownership of the Amalur IP is unclear, as is the state of the Copernicus MMO 38 was developing.
“The Company is experiencing an economic downturn. To avoid further losses and possibility of retrenchment, the Company has decided that a companywide lay off is absolutely necessary,” the memo sent out to employees read. “These layoffs are non-voluntary and non-disciplinary. This is your official notice of lay off, effective today, Thursday, May 24th, 2012.”
Source WPRIFiled Under: Gaming News, Technology News