2K Australia, located in Canberra, was the last remaining AAA studio in Australia. Sources have told Kotaku that a move to Melbourne was planned, which resulted in high level members of the studio leaving. The cost of operating 2K Australia seems to be the main reason for the closure. 2K confirmed the closure of 2K Australia with this statement:
We can confirm we have taken steps to begin the studio closure process for 2K Australia in order to better manage ongoing development costs while improving the working proximity of our creative teams. We are very grateful for the team’s valuable contributions to numerous 2K projects, and are working with affected staff to explore reassignment opportunities where possible.
Hopefully the 2K Australia employees will be able to find work either within 2K or another company as soon as possible.